Applied Finance Capital Management LLC Takes $482,000 Position in Loews Corporation $L

Key Points

• Applied Finance Capital Management LLC acquired a new stake in Loews Corporation, purchasing 5,257 shares valued at approximately $482,000 during the second quarter.
• Several institutional investors, including Nuveen LLC and Swedbank AB, have significantly increased their positions in Loews during the 1st quarter, indicating strong institutional interest.
• Loews Corporation reported a quarterly earnings per share of $1.87, along with a quarterly dividend yield of 0.3%, reflecting its commitment to returning value to shareholders.

Applied Finance Capital Management LLC purchased a new stake in shares of Loews Corporation (NYSE:L - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,257 shares of the insurance provider's stock, valued at approximately $482,000.

A number of other institutional investors have also recently made changes to their positions in L. Nuveen LLC purchased a new stake in Loews during the 1st quarter worth about $34,166,000. Swedbank AB lifted its holdings in Loews by 44.8% during the 1st quarter. Swedbank AB now owns 556,350 shares of the insurance provider's stock worth $51,134,000 after purchasing an additional 172,004 shares in the last quarter. Northern Trust Corp lifted its holdings in Loews by 7.2% during the 1st quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock worth $206,709,000 after purchasing an additional 151,428 shares in the last quarter. Millennium Management LLC lifted its holdings in Loews by 140.4% during the 1st quarter. Millennium Management LLC now owns 251,175 shares of the insurance provider's stock worth $23,085,000 after purchasing an additional 146,695 shares in the last quarter. Finally, AustralianSuper Pty Ltd purchased a new stake in Loews during the 1st quarter worth about $11,633,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Analysts Set New Price Targets

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

Loews Price Performance

L opened at $98.79 on Friday. The stock's 50 day simple moving average is $97.93 and its 200 day simple moving average is $91.95. 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 Corporation has a 1 year low of $75.16 and a 1 year high of $103.52. The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 15.71 and a beta of 0.73.

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

Loews Dividend Announcement

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

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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