Man Group plc Purchases Shares of 26,084 Loews Corporation $L

Key Points

• Man Group acquired 26,084 Loews shares in the second quarter, valued at approximately $2.95 million. Institutional investors and hedge funds collectively own 58.33% of Loews stock.
• Loews reported quarterly earnings of $2.16 per share on revenue of $4.73 billion, with an 8.60% return on equity and a 9.02% net margin.
• Shares opened at $108.44, down 1.2%, while Weiss Ratings upgraded Loews to “buy (a-)” and the company declared a quarterly dividend of $0.0625 per share.

Man Group plc acquired a new position in shares of Loews Corporation (NYSE:L - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 26,084 shares of the insurance provider's stock, valued at approximately $2,953,000.

Other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Loews by 12.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider's stock worth $38,724,000 after purchasing an additional 39,968 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Loews in the second quarter valued at about $69,529,000. Swedbank AB raised its holdings in shares of Loews by 4.8% during the 4th quarter. Swedbank AB now owns 464,458 shares of the insurance provider's stock valued at $48,912,000 after buying an additional 21,352 shares during the period. Danske Bank A S acquired a new position in Loews during the 2nd quarter worth approximately $1,546,000. Finally, Summit Global Investments acquired a new position in Loews during the 2nd quarter worth approximately $1,129,000. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Stock Down 1.2%

Shares of NYSE L opened at $108.44 on Tuesday. Loews Corporation has a 1 year low of $95.10 and a 1 year high of $121.01. The firm has a market cap of $22.17 billion, a price-to-earnings ratio of 13.29 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. The stock's 50-day simple moving average is $114.01 and its 200-day simple moving average is $110.22.

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

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews's dividend payout ratio (DPR) is presently 3.06%.

Analyst Upgrades and Downgrades

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

Loews Company Profile

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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