Sei Investments Co. Acquires 5,608 Shares of Loews Corporation $L

Sei Investments Co. raised its holdings in Loews Corporation (NYSE:LFree Report) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,552 shares of the insurance provider’s stock after purchasing an additional 5,608 shares during the period. Sei Investments Co. owned 0.14% of Loews worth $30,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Loews by 12.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock worth $38,724,000 after buying an additional 39,968 shares during the period. UBS Group AG raised its holdings in Loews by 4.8% during the 4th quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock valued at $85,427,000 after acquiring an additional 37,327 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Loews by 294.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider’s stock valued at $15,645,000 after acquiring an additional 110,901 shares during the period. Swedbank AB lifted its position in shares of Loews by 4.8% during the fourth quarter. Swedbank AB now owns 464,458 shares of the insurance provider’s stock worth $48,912,000 after acquiring an additional 21,352 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of Loews by 37.4% during the fourth quarter. QRG Capital Management Inc. now owns 37,538 shares of the insurance provider’s stock worth $3,953,000 after acquiring an additional 10,216 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Loews Trading Up 0.6%

Shares of Loews stock opened at $118.55 on Tuesday. Loews Corporation has a 12-month low of $89.32 and a 12-month high of $119.10. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 15.06 and a beta of 0.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $110.90 and its 200-day moving average price is $108.76.

Loews (NYSE:LGet Free Report) last issued its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. The company had revenue of $4.55 billion during the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 27th. Loews’s dividend payout ratio (DPR) is presently 3.18%.

Insider Buying and Selling

In other news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the transaction, the director directly owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

View Our Latest Report on L

About Loews

(Free Report)

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.

See Also

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Institutional Ownership by Quarter for Loews (NYSE:L)

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