Canada Pension Plan Investment Board purchased a new stake in shares of Loews Corporation (NYSE:L - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 30,200 shares of the insurance provider's stock, valued at approximately $3,419,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in Loews in the 2nd quarter worth about $140,248,000. The Manufacturers Life Insurance Company bought a new position in shares of Loews during the 2nd quarter worth approximately $28,758,000. Front Street Capital Management Inc. bought a new position in shares of Loews during the 2nd quarter worth approximately $16,310,000. Fiduciary Financial Advisors purchased a new position in shares of Loews in the 2nd quarter worth approximately $26,000. Finally, Cibc World Market Inc. purchased a new position in shares of Loews in the 2nd quarter worth approximately $1,013,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.
Loews Trading Down 0.0%
NYSE L opened at $109.71 on Monday. The stock has a market capitalization of $22.43 billion, a price-to-earnings ratio of 13.44 and a beta of 0.52. Loews Corporation has a one year low of $95.10 and a one year 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 business's fifty day moving average is $114.01 and its 200-day moving average is $110.23.
Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results 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 during the quarter.
Loews Dividend Announcement
The business also recently announced 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. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews's payout ratio is presently 3.06%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings raised Loews from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock has an average rating of "Strong Buy".
View Our Latest Stock Analysis 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.
See Also
Want to see what other hedge funds are holding L? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loews Corporation (NYSE:L - Free Report).
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