AustralianSuper Pty Ltd Buys Shares of 126,569 Loews Corporation (NYSE:L)

AustralianSuper Pty Ltd bought a new stake in shares of Loews Corporation (NYSE:L - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 126,569 shares of the insurance provider's stock, valued at approximately $11,633,000. AustralianSuper Pty Ltd owned about 0.06% of Loews at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Loews in the fourth quarter valued at approximately $4,876,000. Axxcess Wealth Management LLC grew its position in Loews by 23.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 3,195 shares of the insurance provider's stock worth $271,000 after acquiring an additional 610 shares during the period. Thrivent Financial for Lutherans grew its position in Loews by 19.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,988 shares of the insurance provider's stock worth $846,000 after acquiring an additional 1,637 shares during the period. Xponance Inc. grew its position in Loews by 0.9% in the fourth quarter. Xponance Inc. now owns 26,864 shares of the insurance provider's stock worth $2,275,000 after acquiring an additional 242 shares during the period. Finally, iA Global Asset Management Inc. grew its position in Loews by 16.0% in the fourth quarter. iA Global Asset Management Inc. now owns 5,360 shares of the insurance provider's stock worth $454,000 after acquiring an additional 740 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

Insider Activity

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the transaction, the senior vice president directly owned 33,901 shares in the company, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 19.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Loews from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

Loews Stock Performance

NYSE L opened at $92.30 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.47. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $93.23. The business's 50-day moving average price is $89.60 and its 200 day moving average price is $87.05. The firm has a market cap of $19.36 billion, a P/E ratio of 15.16 and a beta of 0.70.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%. The company had revenue of $4.49 billion for the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.27%. Loews's dividend payout ratio is currently 4.11%.

Loews Company Profile

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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