Aberdeen Group plc Purchases 53,737 Shares of Loews Corporation $L

Key Points

• Aberdeen Group plc has increased its holdings in Loews Corporation by 111.8%, acquiring an additional 53,737 shares, bringing their total to 101,816 shares valued at approximately $9.3 million.
• Loews Corporation recently received an upgrade from Wall Street Zen, moving from a "hold" to a "buy" rating, indicating a positive outlook on the company's performance.
• The company declared a quarterly dividend of $0.0625, with an ex-dividend date of August 20th, representing an annualized yield of 0.3%.

Aberdeen Group plc boosted its holdings in Loews Corporation (NYSE:L - Free Report) by 111.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,816 shares of the insurance provider's stock after buying an additional 53,737 shares during the period. Aberdeen Group plc's holdings in Loews were worth $9,296,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in L. Wayfinding Financial LLC bought a new stake in shares of Loews in the 1st quarter worth approximately $25,000. Minot DeBlois Advisors LLC bought a new position in shares of Loews during the 4th quarter valued at $27,000. Sierra Ocean LLC increased its stake in shares of Loews by 805.9% in the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Loews during the first quarter valued at $33,000. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Loews by 387.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after buying an additional 345 shares during the last quarter. Institutional investors own 58.33% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Loews from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

Loews Price Performance

L stock traded down $0.1010 during midday trading on Friday, reaching $96.2590. 766,076 shares of the stock were exchanged, compared to its average volume of 728,799. The company has a fifty day moving average price of $91.94 and a 200 day moving average price of $88.52. Loews Corporation has a 52 week low of $75.16 and a 52 week high of $97.41. The stock has a market capitalization of $19.97 billion, a PE ratio of 15.30 and a beta of 0.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33.

Loews (NYSE:L - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The firm had revenue of $4.56 billion during the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, August 20th. Loews's dividend payout ratio (DPR) is 3.97%.

Loews Company Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.