Board of the Pension Protection Fund Invests $1.43 Million in Loews Corporation $L

Key Points

• The Pension Protection Fund has invested $1.43 million in Loews Corporation, acquiring 15,600 shares, which now represent about 1.5% of its portfolio.
• Loews recently reported a quarterly earnings of $1.87 EPS with a total revenue of $4.56 billion for the period ending August 4th.
• Shares of Loews Corporation are currently trading at $100.78, with a 52-week range between $75.16 and $103.52.

Board of the Pension Protection Fund purchased a new position in Loews Corporation (NYSE:L - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,600 shares of the insurance provider's stock, valued at approximately $1,430,000. Loews comprises about 1.5% of Board of the Pension Protection Fund's portfolio, making the stock its 24th biggest holding.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Loews by 11.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 37,489 shares of the insurance provider's stock worth $3,436,000 after acquiring an additional 3,755 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Loews in the second quarter worth $206,000. Benson Investment Management Company Inc. acquired a new position in shares of Loews in the second quarter worth $5,551,000. Trust Co. of Toledo NA OH acquired a new position in shares of Loews in the second quarter worth $60,000. Finally, Inspire Investing LLC raised its holdings in shares of Loews by 2.7% in the second quarter. Inspire Investing LLC now owns 22,270 shares of the insurance provider's stock worth $2,041,000 after acquiring an additional 586 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Price Performance

Shares of NYSE L opened at $100.78 on Friday. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $103.52. The business has a 50-day moving average of $97.25 and a 200-day moving average of $91.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $20.90 billion, a price-to-earnings ratio of 16.02 and a beta of 0.73.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews's dividend payout ratio is presently 3.97%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "buy (b+)" rating on shares of Loews in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy".

Loews 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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