Arrowstreet Capital Limited Partnership Acquires 16,593 Shares of Loews Corporation $L

Key Points

• Arrowstreet Capital increased its Loews stake by 18.7% in the first quarter, adding 16,593 shares to own 105,485 shares valued at approximately $11.3 million. Institutional investors collectively hold 58.33% of the stock.
• Weiss Ratings upgraded Loews from “buy (b+)” to “buy (a-),” while director Dino Robusto purchased 5,000 shares for about $523,700, increasing his ownership by 95.5%.
• Loews reported first-quarter EPS of $1.63 on $4.55 billion in revenue and declared a quarterly dividend of $0.0625 per share. The stock opened at $115.98, near its 52-week high of $121.01.

Arrowstreet Capital Limited Partnership grew its stake in shares of Loews Corporation (NYSE:L - Free Report) by 18.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,485 shares of the insurance provider's stock after purchasing an additional 16,593 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.05% of Loews worth $11,259,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. DV Equities LLC purchased a new stake in shares of Loews in the 4th quarter worth $25,000. Harbor Capital Advisors Inc. purchased a new position in shares of Loews during the fourth quarter valued at $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Loews during the third quarter valued at $30,000. Private Trust Co. NA raised its holdings in shares of Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider's stock valued at $31,000 after acquiring an additional 269 shares in the last quarter. Finally, SHP Wealth Management bought a new stake in shares of Loews in the fourth quarter valued at about $35,000. 58.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Loews from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews presently has an average rating of "Strong Buy".

Insider Buying and Selling

In other news, Director Dino Robusto bought 5,000 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price 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 in the company, valued at approximately $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 19.00% of the stock is currently owned by corporate insiders.

Loews Stock Down 0.3%

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. Loews Corporation has a twelve month low of $89.32 and a twelve month high of $121.01. The company has a market cap of $23.87 billion, a PE ratio of 14.74 and a beta of 0.52. The company's 50 day moving average is $111.63 and its two-hundred day moving average is $109.09.

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

Loews Announces Dividend

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

Loews Company 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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