Legal & General Group Plc Purchases Shares of 1,238,828 Loews Corporation $L

Key Points

• Legal & General Group Plc purchased 1,238,828 Loews shares worth approximately $140.2 million, giving it a 0.61% stake. Institutional investors and hedge funds collectively own 58.33% of Loews.
• Weiss Ratings upgraded Loews from “buy (b+)” to “buy (a-),” while MarketBeat data shows the stock carries an average “Strong Buy” rating.
• Loews reported quarterly EPS of $2.16 on $4.73 billion in revenue and declared a quarterly dividend of $0.0625 per share, equal to a 0.2% annualized yield.

Legal & General Group Plc purchased a new position in shares of Loews Corporation (NYSE:L - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,238,828 shares of the insurance provider's stock, valued at approximately $140,248,000. Legal & General Group Plc owned 0.61% of Loews as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in L. NewEdge Advisors LLC grew its position in shares of Loews by 2.3% in the first quarter. NewEdge Advisors LLC now owns 4,168 shares of the insurance provider's stock valued at $445,000 after purchasing an additional 95 shares during the period. Lido Advisors LLC lifted its position in Loews by 3.9% during the first quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider's stock worth $277,000 after buying an additional 97 shares during the period. Hancock Whitney Corp lifted its position in Loews by 3.9% during the third quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider's stock worth $263,000 after buying an additional 98 shares during the period. IFM Investors Pty Ltd boosted its stake in Loews by 0.3% in the 4th quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider's stock worth $3,356,000 after buying an additional 100 shares during the last quarter. Finally, Independent Advisor Alliance boosted its stake in Loews by 4.3% in the 4th quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider's stock worth $274,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Analyst Upgrades and Downgrades

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

Loews Stock Down 1.1%

Shares of L opened at $109.69 on Friday. The firm has a market cap of $22.42 billion, a PE ratio of 13.44 and a beta of 0.52. The company's fifty day moving average is $113.96 and its two-hundred day moving average is $110.24. Loews Corporation has a fifty-two week low of $95.10 and a fifty-two week high of $121.01. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Loews's 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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