Plato Investment Management Ltd purchased a new stake in shares of Loews Corporation (NYSE:L – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,158 shares of the insurance provider’s stock, valued at approximately $806,000.
A number of other institutional investors also recently bought and sold shares of L. Vanguard Group Inc. lifted its holdings in Loews by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock worth $2,045,759,000 after buying an additional 108,882 shares during the period. Norges Bank purchased a new position in shares of Loews during the 4th quarter worth approximately $577,279,000. Geode Capital Management LLC grew its holdings in shares of Loews by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after acquiring an additional 271,234 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Loews by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock worth $419,581,000 after acquiring an additional 344,995 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Loews by 0.4% in the 3rd quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock worth $337,698,000 after acquiring an additional 12,311 shares in the last quarter. 58.33% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Loews presently has an average rating of “Strong Buy”.
Insiders Place Their Bets
In other news, Director Dino Robusto acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 19.00% of the stock is currently owned by insiders.
Loews Stock Performance
Shares of L stock opened at $112.57 on Wednesday. Loews Corporation has a one year low of $94.53 and a one year high of $121.01. The company’s 50-day moving average is $113.57 and its 200 day moving average is $110.10. The company has a market capitalization of $23.01 billion, a price-to-earnings ratio of 13.80 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36.
Loews (NYSE:L – Get Free Report) last issued its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. The business had revenue of $4.73 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%.
Loews Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is 3.06%.
Loews Company 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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