Loews Corporation $L Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. cut its Loews stake by 69.6% in the third quarter, selling 95,825 shares and retaining 41,771 shares valued at approximately $4.36 million.
• Several major institutions, including BlackRock, Legal & General, and Bank of New York Mellon, initiated Loews positions during the second quarter. Institutional investors collectively own 58.33% of the company.
• Loews received an upgrade from Weiss Ratings to “buy (a-)” and has a consensus “Strong Buy” rating. The stock recently opened at $112.04, while the company reported quarterly EPS of $2.16 and maintains a quarterly dividend of $0.0625 per share.

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 69.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,771 shares of the insurance provider's stock after selling 95,825 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Loews were worth $4,362,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. purchased a new position in Loews in the second quarter valued at about $1,621,369,000. Legal & General Group Plc purchased a new stake in Loews during the 2nd quarter worth approximately $140,248,000. Bank of New York Mellon Corp purchased a new stake in Loews during the 2nd quarter worth approximately $107,461,000. Bank of America Corp DE purchased a new stake in Loews during the 2nd quarter worth approximately $79,560,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Loews in the 2nd quarter valued at approximately $71,453,000. Institutional investors and hedge funds own 58.33% of the company's stock.

Wall Street Analyst Weigh In

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

Loews Price Performance

L opened at $112.04 on Monday. The company has a 50-day moving average of $108.63 and a 200-day moving average of $110.12. The company has a market capitalization of $22.90 billion, a P/E ratio of 13.73 and a beta of 0.50. Loews Corporation has a 1-year low of $97.38 and a 1-year high of $121.01. 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 (NYSE:L - Get Free Report) last issued its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Loews's payout ratio is currently 3.06%.

Loews Company Profile

Loews Corporation NYSE: L is a diversified holding company with operating businesses in insurance, energy infrastructure, hospitality and packaging. The company manages its portfolio through a combination of wholly owned subsidiaries and a significant ownership interest in CNA Financial Corporation, a commercial property and casualty insurance provider.

Loews' wholly owned businesses include Boardwalk Pipelines, which owns and operates natural gas and natural gas liquids pipeline and storage assets; Loews Hotels & Co, which operates upscale hotels and resorts under brands including Loews Hotels and Universal's hotels; and Altium Packaging, a manufacturer of rigid plastic containers and packaging products.

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