Caisse de depot et placement du Quebec bought a new position in Loews Corporation (NYSE:L – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 102,689 shares of the insurance provider’s stock, valued at approximately $11,625,000. Caisse de depot et placement du Quebec owned approximately 0.05% of Loews as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of L. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Loews by 12.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock worth $38,724,000 after acquiring an additional 39,968 shares during the period. UBS Group AG increased its position 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 purchasing an additional 37,327 shares during the period. Swedbank AB increased its position in Loews by 4.8% during the 4th quarter. Swedbank AB now owns 464,458 shares of the insurance provider’s stock valued at $48,912,000 after purchasing an additional 21,352 shares during the period. Deutsche Bank AG bought a new stake in shares of Loews in the 2nd quarter valued at about $69,529,000. Finally, Walleye Capital LLC bought a new stake in shares of Loews in the 2nd quarter valued at about $1,605,000. Institutional investors and hedge funds own 58.33% of the company’s stock.
Analyst Ratings Changes
Separately, Weiss Ratings upgraded shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has an average rating of “Strong Buy”.
Loews Trading Down 0.1%
Shares of NYSE L opened at $109.71 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $22.43 billion, a P/E ratio of 13.44 and a beta of 0.52. Loews Corporation has a 1-year low of $95.10 and a 1-year high of $121.01. The business has a fifty day moving average price of $114.01 and a 200 day moving average price of $110.24.
Loews (NYSE:L – Get Free Report) last posted its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. The company had revenue of $4.73 billion for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.
Loews Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews’s payout ratio is 3.06%.
Loews Profile
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.
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