Loews Corporation $L Shares Sold by Royal London Asset Management Ltd.

Key Points

• Royal London Asset Management reduced its Loews stake by 8.4% in the second quarter, selling 9,854 shares and retaining 107,491 shares valued at approximately $12.2 million. Institutional investors and hedge funds collectively own 58.33% of the company.
• Loews reported quarterly EPS of $2.16 on revenue of $4.73 billion, with a 9.02% net margin and 8.60% return on equity. The stock was trading at $108.44, compared with a 52-week range of $95.10 to $121.01.
• The company declared a quarterly dividend of $0.0625, equal to a $0.25 annualized payout and a 0.2% yield. Weiss Ratings upgraded Loews to “buy (a-),” while the broader analyst consensus remained “Strong Buy.”

Royal London Asset Management Ltd. reduced its stake in Loews Corporation (NYSE:L - Free Report) by 8.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 107,491 shares of the insurance provider's stock after selling 9,854 shares during the quarter. Royal London Asset Management Ltd. owned about 0.05% of Loews worth $12,169,000 as of its most recent SEC filing.

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

Loews Price Performance

Shares of NYSE:L opened at $108.44 on Tuesday. Loews Corporation has a twelve month low of $95.10 and a twelve month high of $121.01. The company's 50 day moving average is $114.01 and its 200 day moving average is $110.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The company has a market cap of $22.17 billion, a PE ratio of 13.29 and a beta of 0.52.

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 (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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be 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 is Wednesday, August 19th. Loews's dividend 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 research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

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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