The Manufacturers Life Insurance Company acquired a new stake in Loews Corporation (NYSE:L - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 254,022 shares of the insurance provider's stock, valued at approximately $28,758,000. The Manufacturers Life Insurance Company owned approximately 0.12% of Loews at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position 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 valued at $38,724,000 after acquiring an additional 39,968 shares during the last quarter. UBS Group AG grew its stake in shares of Loews by 4.8% in 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 last quarter. Swedbank AB increased its stake in Loews by 4.8% in the 4th quarter. Swedbank AB now owns 464,458 shares of the insurance provider's stock valued at $48,912,000 after buying an additional 21,352 shares during the period. Deutsche Bank AG purchased a new position in Loews during the 2nd quarter worth $69,529,000. Finally, Walleye Capital LLC purchased a new position in Loews during the 2nd quarter worth $1,605,000. Institutional investors and hedge funds own 58.33% of the company's stock.
Loews Stock Down 1.1%
Loews stock opened at $109.69 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. Loews Corporation has a 1-year low of $95.10 and a 1-year high of $121.01. The company has a market cap of $22.42 billion, a PE ratio of 13.44 and a beta of 0.52. The stock's 50 day moving average price is $113.96 and its 200 day moving average price is $110.24.
Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.The firm had revenue of $4.73 billion for the quarter.
Loews Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews's payout ratio is currently 3.06%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised shares of Loews from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy".
Read Our Latest Stock Report on L
Loews Company Profile
(
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.
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