Buckland Partners Management Co LLC Takes Position in Loews Corporation $L

Key Points

• Buckland Partners Management acquired 24,000 Loews shares worth approximately $2.7 million, making the stock 1.3% of its portfolio. Institutional investors collectively own 58.33% of Loews.
• Loews reported quarterly earnings of $2.16 per share on $4.73 billion in revenue, with a 9.02% net margin and 8.60% return on equity.
• The company declared a quarterly dividend of $0.0625 per share, equivalent to a $0.25 annualized payout and a 0.2% yield. Shares recently opened at $112.47, within a 52-week range of $94.36 to $121.01.

Buckland Partners Management Co LLC acquired a new position in shares of Loews Corporation (NYSE:L - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,000 shares of the insurance provider's stock, valued at approximately $2,717,000. Loews makes up about 1.3% of Buckland Partners Management Co LLC's portfolio, making the stock its 24th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Loews by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider's stock valued at $2,045,759,000 after acquiring an additional 108,882 shares in the last quarter. BlackRock Inc. acquired a new position in Loews during the second quarter worth $1,621,369,000. Norges Bank acquired a new position in Loews during the fourth quarter worth $577,279,000. Geode Capital Management LLC grew its position in Loews by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider's stock valued at $524,599,000 after purchasing an additional 271,234 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position 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 purchasing an additional 344,995 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Loews

In other Loews news, Director Dino Robusto acquired 5,000 shares of the company's stock in a transaction 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 purchase, the director directly owned 10,235 shares of the company's stock, valued at approximately $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.00% of the stock is owned by corporate insiders.

Loews Stock Performance

Shares of L stock opened at $112.47 on Tuesday. The company has a fifty day moving average price of $113.46 and a two-hundred day moving average price of $110.03. Loews Corporation has a one year low of $94.36 and a one year high of $121.01. The stock has a market cap of $22.99 billion, a P/E ratio of 13.78 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36.

Loews (NYSE:L - Get Free Report) last released 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 company had revenue of $4.73 billion for the quarter.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be paid a $0.0625 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews's dividend payout ratio is currently 3.06%.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Loews presently has an average rating of "Strong Buy".

About Loews

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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