B. Metzler seel. Sohn & Co. AG reduced its position in Loews Corporation (NYSE:L - Free Report) by 44.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,673 shares of the insurance provider's stock after selling 22,229 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Loews were worth $3,133,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Loews during the 2nd quarter worth approximately $1,621,369,000. Norges Bank bought a new stake in Loews during the 4th quarter valued at about $577,279,000. Legal & General Group Plc purchased a new stake in Loews in the 2nd quarter valued at about $140,248,000. Bank of New York Mellon Corp purchased a new stake in Loews in the 2nd quarter valued at about $107,461,000. Finally, Goldman Sachs Group Inc. grew its stake in Loews by 32.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider's stock worth $340,986,000 after acquiring an additional 786,381 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.
Loews Price Performance
Shares of NYSE L opened at $109.22 on Friday. Loews Corporation has a 12 month low of $95.10 and a 12 month high of $121.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The firm's 50 day simple moving average is $113.81 and its 200-day simple moving average is $110.21. The stock has a market capitalization of $22.33 billion, a price-to-earnings ratio of 13.38 and a beta of 0.51.
Loews (NYSE:L - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%. The business had revenue of $4.73 billion during the quarter.
Loews Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Loews's dividend payout ratio (DPR) is presently 3.06%.
Analysts Set New Price Targets
Separately, Weiss Ratings raised Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Strong Buy".
View Our Latest Research Report on L
About Loews
(
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.
Further Reading
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