Daiichi Life Insurance Co. Ltd. Invests $6.92 Million in Loews Corporation $L

Key Points

• Daiichi Life Insurance purchased 61,170 Loews shares worth approximately $6.92 million in the second quarter, while institutional investors overall own 58.33% of the stock.
• Weiss Ratings upgraded Loews from “buy (b+)” to “buy (a-),” and MarketBeat reports a consensus “Strong Buy” rating.
• Loews reported quarterly EPS of $2.16 on $4.73 billion in revenue and announced a quarterly dividend of $0.0625 per share, equivalent to a 0.2% yield.

Daiichi Life Insurance Co. Ltd. purchased a new position in Loews Corporation (NYSE:L - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 61,170 shares of the insurance provider's stock, valued at approximately $6,925,000.

A number of other large investors also recently bought and sold shares of the business. Paladin Partners LLC purchased a new stake in Loews in the second quarter worth about $30,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Loews during the second quarter valued at approximately $26,000. DV Equities LLC purchased a new position in shares of Loews during the fourth quarter valued at approximately $25,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Loews in the 2nd quarter worth approximately $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Loews in the 3rd quarter worth approximately $30,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other Loews news, Director Dino Robusto bought 5,000 shares of the business's stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the transaction, the director owned 10,235 shares of the company's stock, valued at $1,072,013.90. This represents a 95.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 19.00% of the company's stock.

Loews Stock Down 0.8%

Loews stock opened at $109.85 on Friday. The stock has a market cap of $22.46 billion, a PE ratio of 13.46 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a one year low of $95.10 and a one year high of $121.01. The stock has a fifty day moving average of $113.74 and a 200 day moving average of $110.18.

Loews (NYSE:L - Get Free Report) last announced its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. The business had revenue of $4.73 billion for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.

Loews Dividend Announcement

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

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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