Loews Corporation $L Holdings Boosted by Cooper Investors PTY Ltd.

Key Points

• Cooper Investors PTY Ltd. increased its Loews stake by 317.2% in the third quarter, owning 23,210 shares valued at approximately $2.42 million. Institutional investors and hedge funds collectively hold 58.33% of Loews stock.
• Loews reported quarterly revenue of $4.73 billion and earnings of $2.16 per share, with a 9.02% net margin and 8.60% return on equity.
• Shares recently traded at $108.49, while Weiss Ratings upgraded Loews to “buy (a-)”; MarketBeat data showed an average analyst rating of “Strong Buy.”

Cooper Investors PTY Ltd. raised its stake in Loews Corporation (NYSE:L - Free Report) by 317.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,210 shares of the insurance provider's stock after purchasing an additional 17,647 shares during the period. Loews makes up approximately 1.3% of Cooper Investors PTY Ltd.'s holdings, making the stock its 24th biggest position. Cooper Investors PTY Ltd.'s holdings in Loews were worth $2,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in Loews in the 2nd quarter valued at approximately $79,560,000. Amundi lifted its position in shares of Loews by 12.6% in the 2nd quarter. Amundi now owns 752,222 shares of the insurance provider's stock worth $85,159,000 after acquiring an additional 84,243 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Loews by 739.2% during the 2nd quarter. Squarepoint Ops LLC now owns 37,690 shares of the insurance provider's stock worth $4,267,000 after purchasing an additional 33,199 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Loews during the 2nd quarter worth approximately $69,529,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Loews during the 2nd quarter worth approximately $28,758,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

Shares of NYSE:L traded up $0.71 during midday trading on Tuesday, reaching $108.49. 652,457 shares of the company's stock were exchanged, compared to its average volume of 800,167. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. The company's 50 day simple moving average is $109.28 and its two-hundred day simple moving average is $109.87. Loews Corporation has a 12 month low of $97.38 and a 12 month high of $121.01. The firm has a market capitalization of $22.18 billion, a PE ratio of 13.29 and a beta of 0.50.

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

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were issued 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 was Wednesday, August 19th. Loews's payout ratio is presently 3.06%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat, Loews has an average rating of "Strong Buy".

Loews Profile

Loews Corporation NYSE: L is a diversified holding company headquartered in New York City. Its principal businesses operate in insurance, energy infrastructure, hospitality and packaging, giving the company exposure to several industries rather than relying on a single operating segment.

Loews owns a controlling interest in CNA Financial, a commercial property and casualty insurance company that provides insurance products and services to businesses and organizations. It also owns Boardwalk Pipelines, which operates interstate natural gas transmission and storage systems, and Loews Hotels & Co, a hospitality company that manages and develops hotels and resorts in the United States and Canada.

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