Aberdeen Group plc Raises Holdings in Loews Corporation $L

Key Points

• Aberdeen Group plc increased its holdings in Loews Corporation by 4.0% during the second quarter, now owning approximately 0.05% of the company valued at $9.7 million.
• Loews Corporation reported quarterly earnings of $1.87 per share and announced a quarterly dividend of $0.0625 per share, reflecting a yield of 0.2%.
• As of now, Loews shares are trading at $100.27, with a market capitalization of $20.80 billion and a consensus rating of "Buy" from analysts.

Aberdeen Group plc lifted its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,860 shares of the insurance provider's stock after purchasing an additional 4,044 shares during the period. Aberdeen Group plc owned about 0.05% of Loews worth $9,703,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of Loews during the 1st quarter worth approximately $25,000. Sierra Ocean LLC increased its stake in shares of Loews by 805.9% during 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. Elequin Capital LP purchased a new position in shares of Loews during the 1st quarter worth approximately $30,000. Zions Bancorporation National Association UT acquired a new stake in Loews during the first quarter worth approximately $33,000. Finally, UMB Bank n.a. boosted its position in Loews by 76.6% during the second quarter. UMB Bank n.a. now owns 830 shares of the insurance provider's stock worth $76,000 after acquiring an additional 360 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Down 2.3%

Shares of NYSE L opened at $100.27 on Thursday. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $103.52. The firm has a fifty day moving average of $97.73 and a 200-day moving average of $91.86. The stock has a market capitalization of $20.80 billion, a PE ratio of 15.94 and a beta of 0.73. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43.

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

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews's dividend payout ratio is 3.97%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "buy (b+)" rating on shares of Loews in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy".

About Loews

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.

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