Nykredit A S Buys New Shares in Loews Corporation $L

Key Points

• Nykredit A/S acquired 19,452 Loews shares during the second quarter, valued at approximately $2.2 million. Institutional investors collectively own 58.33% of the company, with BlackRock and Norges Bank also establishing sizable positions.
• Loews reported quarterly revenue of $4.73 billion and earnings of $2.16 per share, while shares recently opened at $106.00. The stock has a market capitalization of $21.67 billion and trades at a price-to-earnings ratio of 12.99.
• The company paid a quarterly dividend of $0.0625 per share, equivalent to an annualized dividend of $0.25 and a 0.2% yield. Despite a Weiss Ratings downgrade, analyst coverage remains favorable, with the stock holding an average “Buy” rating.

Nykredit A S acquired a new position in Loews Corporation (NYSE:L - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 19,452 shares of the insurance provider's stock, valued at approximately $2,202,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Loews in the second quarter valued at approximately $1,621,369,000. Norges Bank purchased a new stake in Loews during the 4th quarter valued at $577,279,000. Geode Capital Management LLC grew its holdings in Loews by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider's stock worth $524,599,000 after acquiring an additional 271,234 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Loews by 32.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider's stock worth $340,986,000 after acquiring an additional 786,381 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Loews by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,270,492 shares of the insurance provider's stock valued at $242,340,000 after acquiring an additional 28,016 shares during the period. Institutional investors own 58.33% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy".

Loews Stock Performance

Shares of L opened at $106.00 on Wednesday. The company has a 50-day simple moving average of $112.14 and a two-hundred day simple moving average of $110.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $21.67 billion, a PE ratio of 12.99 and a beta of 0.51. Loews Corporation has a one year low of $97.00 and a one year high of $121.01.

Loews (NYSE:L - Get Free Report) last announced its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews's dividend payout ratio (DPR) is currently 3.06%.

Loews Profile

Loews Corporation NYSE: L is a diversified holding company whose businesses operate primarily in the insurance, energy infrastructure, hospitality and packaging sectors. Rather than operating as a single-industry company, Loews manages a portfolio of independently run subsidiaries and focuses on long-term ownership, financial strength and disciplined capital allocation.

Its principal businesses include CNA Financial Corporation, a commercial property and casualty insurance provider; Boardwalk Pipelines, which owns and operates natural gas pipeline and storage assets; Loews Hotels & Co, which manages luxury and upper-upscale hotels and resorts; and Altium Packaging, a manufacturer of rigid plastic containers and packaging solutions.

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