Nykredit A S Purchases New Stake in Loews Corporation $L

Key Points

• Nykredit A/S purchased 22,871 Loews shares during the second quarter, valued at approximately $2.59 million. Institutional investors collectively own 58.33% of the company.
• 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.
• The company declared a quarterly dividend of $0.0625 per share, equivalent to an annualized $0.25 dividend and a 0.2% yield. The stock opened at $109.22, while MarketBeat reported an average analyst rating of “Strong Buy.”

Nykredit A S purchased a new stake in shares of Loews Corporation (NYSE:L - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 22,871 shares of the insurance provider's stock, valued at approximately $2,589,000.

Several other institutional investors also recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Loews in the 2nd quarter valued at $26,000. Fiduciary Financial Advisors acquired a new position in shares of Loews during the 2nd quarter valued at $26,000. DV Equities LLC purchased a new stake in Loews during the 4th quarter worth $25,000. Keating Financial Advisory Services Inc. purchased a new stake in Loews during the 2nd quarter worth $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Loews in the 3rd quarter valued at $30,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Stock Down 0.1%

NYSE L opened at $109.22 on Tuesday. The stock has a market cap of $22.33 billion, a PE ratio of 13.38 and a beta of 0.51. Loews Corporation has a fifty-two week low of $95.10 and a fifty-two week high of $121.01. The business has a 50 day moving average price of $113.72 and a two-hundred day moving average price of $110.21. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors 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 dividend payout ratio (DPR) is presently 3.06%.

Analysts Set New Price Targets

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