ABN Amro Investment Solutions Acquires 10,509 Shares of Loews Corporation $L

Key Points

• ABN Amro Investment Solutions boosted its Loews stake by 38.3% in the first quarter, buying 10,509 additional shares and bringing its total position to 37,958 shares worth about $4.05 million.
• Loews shares were up 0.8% to $115.58, near their 52-week high of $119.10, with the company carrying a market cap of $23.78 billion and a P/E ratio of 14.69.
• The company reported Q1 earnings of $1.63 per share on $4.55 billion in revenue, and it recently paid a quarterly dividend of $0.0625 per share, which works out to a modest 0.2% annual yield.

ABN Amro Investment Solutions increased its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 38.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 37,958 shares of the insurance provider's stock after purchasing an additional 10,509 shares during the period. ABN Amro Investment Solutions' holdings in Loews were worth $4,052,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Loews by 12.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider's stock worth $38,724,000 after acquiring an additional 39,968 shares during the last quarter. UBS Group AG lifted its holdings 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 worth $85,427,000 after acquiring an additional 37,327 shares during the last quarter. Accurate Wealth Management LLC acquired a new position in Loews during the fourth quarter worth $2,095,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Loews by 294.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider's stock worth $15,645,000 after acquiring an additional 110,901 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Loews by 5,379.4% in the fourth quarter. SG Americas Securities LLC now owns 165,807 shares of the insurance provider's stock valued at $17,461,000 after purchasing an additional 162,781 shares during the period. Institutional investors own 58.33% of the company's stock.

Loews Stock Up 0.8%

L opened at $115.58 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a one year low of $89.32 and a one year high of $119.10. The business's 50-day simple moving average is $110.45 and its 200-day simple moving average is $108.58. The stock has a market capitalization of $23.78 billion, a P/E ratio of 14.69 and a beta of 0.52.

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

Loews Announces Dividend

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

Insiders Place Their Bets

In other Loews news, Director Dino Robusto purchased 5,000 shares of the stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 19.00% 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, According to MarketBeat, the company presently has an average rating of "Buy".

About Loews

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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