QRG Capital Management Inc. Acquires 6,930 Shares of Loews Corporation $L

Key Points

• QRG Capital Management Inc. increased its stake in Loews Corporation by 6.4%, acquiring an additional 6,930 shares, bringing its total ownership to 114,599 shares valued at approximately $10.5 million.
• Other institutional investors, such as Nuveen LLC and Swedbank AB, have also significantly increased their investments in Loews, with institutional ownership now at 58.33%.
• Loews Corporation recently reported a $1.87 EPS for the quarter with revenue of $4.56 billion, and declared a quarterly dividend of $0.0625 per share.

QRG Capital Management Inc. raised its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,599 shares of the insurance provider's stock after acquiring an additional 6,930 shares during the quarter. QRG Capital Management Inc. owned approximately 0.05% of Loews worth $10,504,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of L. Nuveen LLC bought a new stake in Loews during the first quarter valued at about $34,166,000. Swedbank AB raised its holdings in Loews by 44.8% during the first quarter. Swedbank AB now owns 556,350 shares of the insurance provider's stock valued at $51,134,000 after acquiring an additional 172,004 shares during the period. Northern Trust Corp increased its holdings in shares of Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock worth $206,709,000 after purchasing an additional 151,428 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Loews by 140.4% in the first quarter. Millennium Management LLC now owns 251,175 shares of the insurance provider's stock worth $23,085,000 after purchasing an additional 146,695 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new stake in shares of Loews in the first quarter worth about $11,633,000. 58.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Loews in a report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Loews has an average rating of "Buy".

Loews Trading Up 0.0%

L opened at $101.68 on Friday. The firm has a market cap of $21.09 billion, a P/E ratio of 16.17 and a beta of 0.73. Loews Corporation has a 12 month low of $75.16 and a 12 month high of $102.41. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $96.08 and a 200 day moving average of $91.18.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. The company had revenue of $4.56 billion during the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were given a $0.0625 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews's dividend payout ratio (DPR) is currently 3.97%.

Loews Company Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.

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