8,892 Shares in Loews Corporation $L Bought by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd opened a new position in Loews Corporation during the first quarter, buying 8,892 shares worth about $941,000.
• Institutional ownership in Loews remains high, with large investors like Vanguard, Norges Bank, and Geode Capital Management increasing or holding sizable stakes; institutions and hedge funds now own 58.33% of the company.
• Loews reported Q1 earnings of $1.63 per share on revenue of $4.55 billion, while the stock was trading near its 52-week high at $114.53 and carries a consensus analyst rating of Buy.

Mediolanum International Funds Ltd bought a new stake in Loews Corporation (NYSE:L - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 8,892 shares of the insurance provider's stock, valued at approximately $941,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Loews by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider's stock valued at $2,045,759,000 after acquiring an additional 108,882 shares during the period. Norges Bank bought a new position in shares of Loews in the fourth quarter worth about $577,279,000. Geode Capital Management LLC lifted its position 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 purchasing an additional 271,234 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Loews by 9.5% during 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 purchasing an additional 344,995 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Loews by 0.4% during the 3rd quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider's stock valued at $337,698,000 after purchasing an additional 12,311 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Loews from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

Loews Price Performance

NYSE:L opened at $114.53 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a one year low of $89.32 and a one year high of $119.10. The company has a fifty day moving average price of $110.03 and a 200 day moving average price of $108.44. The stock has a market cap of $23.57 billion, a P/E ratio of 14.55 and a beta of 0.52.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The company had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews's dividend payout ratio (DPR) is 3.18%.

Insiders Place Their Bets

In other news, Director Dino Robusto purchased 5,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the purchase, the director directly owned 10,235 shares of the company's stock, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.00% of the stock is currently owned by company insiders.

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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