Quantbot Technologies LP purchased a new position in Loews Corporation (NYSE:L - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 35,846 shares of the insurance provider's stock, valued at approximately $4,058,000.
Other institutional investors also recently bought and sold shares of the company. DV Equities LLC purchased a new position in Loews in the fourth quarter worth about $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Loews during the second quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Loews during the second quarter valued at approximately $28,000. Paladin Partners LLC bought a new stake in shares of Loews during the second quarter valued at approximately $30,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Loews in the 3rd quarter worth approximately $30,000. 58.33% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, Director Dino Robusto bought 5,000 shares of the company's stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the transaction, the director owned 10,235 shares of the company's stock, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.00% of the company's stock.
Loews Trading Up 0.0%
NYSE:L opened at $109.85 on Monday. The company has a market cap of $22.46 billion, a PE ratio of 13.46 and a beta of 0.52. 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 50 day simple moving average of $113.74 and a two-hundred day simple moving average of $110.21. Loews Corporation has a 12 month low of $95.10 and a 12 month high of $121.01.
Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. The firm had revenue of $4.73 billion for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.
Loews Dividend Announcement
The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews's dividend payout ratio is currently 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 equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Loews has an average rating of "Strong Buy".
View Our Latest Analysis on Loews
Loews Company Profile
(
Free Report)
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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