Amundi Grows Holdings in Loews Corporation $L

Amundi boosted its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 12.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 752,222 shares of the insurance provider's stock after purchasing an additional 84,243 shares during the period. Amundi owned approximately 0.37% of Loews worth $85,159,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System increased its position in Loews by 6,731.5% in the 2nd quarter. California State Teachers Retirement System now owns 49,841,155 shares of the insurance provider's stock valued at $5,642,517,000 after acquiring an additional 49,111,581 shares during the period. BlackRock Inc. purchased a new stake in shares of Loews during the second quarter worth approximately $1,621,369,000. Norges Bank purchased a new stake in shares of Loews during the fourth quarter worth approximately $577,279,000. Geode Capital Management LLC lifted its holdings in shares of Loews by 5.7% during the fourth 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 period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Loews by 9.5% during the fourth 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 period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Up 0.3%

L opened at $108.61 on Thursday. 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 12 month low of $95.29 and a 12 month high of $121.01. The stock has a market capitalization of $22.20 billion, a P/E ratio of 13.31 and a beta of 0.51. The business has a 50 day simple moving average of $113.51 and a 200-day simple moving average of $110.21.

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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, August 19th. Loews's payout ratio is presently 3.06%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

Loews Company Profile

Loews Corporation NYSE: L is a diversified holding company whose businesses operate primarily in the insurance, energy infrastructure, hospitality and packaging sectors. Rather than operating as a single-industry company, Loews manages a portfolio of independently run subsidiaries and focuses on long-term ownership, financial strength and disciplined capital allocation.

Its principal businesses include CNA Financial Corporation, a commercial property and casualty insurance provider; Boardwalk Pipelines, which owns and operates natural gas pipeline and storage assets; Loews Hotels & Co, which manages luxury and upper-upscale hotels and resorts; and Altium Packaging, a manufacturer of rigid plastic containers and packaging solutions.

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