Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Loews Corporation (NYSE:L - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 28,070 shares of the insurance provider's stock, valued at approximately $2,996,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Loews by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider's stock worth $2,045,759,000 after acquiring an additional 108,882 shares in the last quarter. Norges Bank bought a new stake in shares of Loews in the 4th quarter valued at about $577,279,000. Geode Capital Management LLC increased its position in Loews by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider's stock valued at $524,599,000 after buying an additional 271,234 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Loews by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider's stock valued at $419,581,000 after buying an additional 344,995 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Loews by 0.4% during the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider's stock worth $337,698,000 after buying an additional 12,311 shares during the period. 58.33% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director Dino Robusto bought 5,000 shares of the business's stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the purchase, the director owned 10,235 shares in the company, valued at $1,072,013.90. This trade represents a 95.51% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 19.00% of the stock is owned by corporate insiders.
Loews Trading Up 0.5%
NYSE L opened at $114.47 on Friday. The firm has a 50 day moving average of $109.60 and a two-hundred day moving average of $108.30. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $23.55 billion, a PE ratio of 14.55 and a beta of 0.52. Loews Corporation has a 52 week low of $89.32 and a 52 week high of $119.10.
Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. The company had revenue of $4.55 billion for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.
Loews Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 27th. Loews's dividend payout ratio (DPR) is currently 3.18%.
Analyst Ratings Changes
Separately, Weiss Ratings cut shares of Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Loews currently has a consensus rating of "Buy".
Get Our Latest Report on Loews
Loews Profile
(
Free Report)
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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