15,600 Shares in Loews Corporation $L Acquired by Board of the Pension Protection Fund

Board of the Pension Protection Fund purchased a new stake in shares of Loews Corporation (NYSE:L) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 15,600 shares of the insurance provider’s stock, valued at approximately $1,430,000. Loews makes up approximately 1.5% of Board of the Pension Protection Fund’s investment portfolio, making the stock its 24th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in Loews during the 1st quarter valued at $25,000. Sierra Ocean LLC boosted its stake in Loews by 805.9% during the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 274 shares in the last quarter. Elequin Capital LP bought a new position in Loews during the 1st quarter valued at $30,000. Zions Bancorporation National Association UT bought a new position in Loews during the 1st quarter valued at $33,000. Finally, UMB Bank n.a. boosted its stake in Loews by 80.1% during the 1st quarter. UMB Bank n.a. now owns 470 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 209 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b+)” rating on shares of Loews in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

Loews Price Performance

Shares of NYSE:L opened at $100.78 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $103.52. The business has a fifty day simple moving average of $97.25 and a 200 day simple moving average of $91.65. The firm has a market cap of $20.90 billion, a price-to-earnings ratio of 16.02 and a beta of 0.73.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The business had revenue of $4.56 billion during the quarter.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews’s dividend payout ratio (DPR) is currently 3.97%.

Loews Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.