9,266 Shares in Loews Corporation $L Acquired by Mill Capital Management LLC

Key Points

• Mill Capital Management acquired 9,266 Loews shares during the second quarter, valued at approximately $1.05 million. Institutional investors collectively own 58.33% of the company.
• Loews reported quarterly earnings of $2.16 per share on $4.73 billion in revenue, with an 8.60% return on equity and a 9.02% net margin.
• The company declared a quarterly dividend of $0.0625 per share, equivalent to an annualized $0.25 dividend and a 0.2% yield; Weiss Ratings upgraded Loews to “buy (a-).”

Mill Capital Management LLC bought a new stake in Loews Corporation (NYSE:L - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,266 shares of the insurance provider's stock, valued at approximately $1,049,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. DV Equities LLC acquired a new position in Loews during the 4th quarter worth approximately $25,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews in the 3rd quarter valued at $30,000. Private Trust Co. NA raised its holdings in shares of Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 269 shares in the last quarter. SHP Wealth Management purchased a new stake in shares of Loews during the 4th quarter worth $35,000. Finally, Torren Management LLC purchased a new stake in shares of Loews during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Up 0.3%

Loews stock opened at $113.11 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 $94.36 and a 1-year high of $121.01. The company has a market cap of $23.12 billion, a PE ratio of 13.86 and a beta of 0.52. The stock's 50 day moving average price is $113.33 and its 200 day moving average price is $109.91.

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. The firm 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid 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 dividend yield of 0.2%. Loews's dividend payout ratio is 3.06%.

Insider Buying and Selling at Loews

In related news, Director Dino Robusto purchased 5,000 shares of the business's stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director directly owned 10,235 shares of the company's stock, valued at $1,072,013.90. This trade represents a 95.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Loews from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has a consensus rating of "Strong Buy".

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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