Amundi Increases Position in Loews Corporation $L

Key Points

• Amundi increased its Loews stake by 7% in the first quarter, adding 43,748 shares to own 667,979 shares valued at approximately $71.3 million. Institutional investors collectively hold 58.33% of the company.
• Loews received a rating upgrade from Weiss Ratings to “buy (a-)”; MarketBeat data shows the stock has an average “Strong Buy” rating.
• Director Dino Robusto purchased 5,000 shares for approximately $523,700, nearly doubling his direct ownership. Loews reported quarterly EPS of $1.63 on $4.55 billion in revenue and maintains a quarterly dividend of $0.0625 per share.

Amundi lifted its stake in Loews Corporation (NYSE:L - Free Report) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 667,979 shares of the insurance provider's stock after purchasing an additional 43,748 shares during the period. Amundi owned approximately 0.32% of Loews worth $71,300,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in L. DV Equities LLC acquired a new stake in shares of Loews during the 4th quarter valued at approximately $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Loews in the 4th quarter worth approximately $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews in the 3rd quarter worth approximately $30,000. Private Trust Co. NA increased its stake in 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. Finally, SHP Wealth Management purchased a new position in Loews in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Loews from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

Insiders Place Their Bets

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

Loews Stock Performance

NYSE:L opened at $115.98 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $23.87 billion, a P/E ratio of 14.74 and a beta of 0.52. The firm has a 50-day moving average price of $111.63 and a two-hundred day moving average price of $109.09. Loews Corporation has a twelve month low of $89.32 and a twelve month high of $121.01.

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

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued 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 was Wednesday, May 27th. Loews's dividend payout ratio is 3.18%.

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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