Quantinno Capital Management LP Acquires 47,646 Shares of Loews Corporation $L

Key Points

• Quantinno Capital Management increased its Loews stake by 14.1% in the first quarter, purchasing 47,646 shares to hold 385,466 shares worth approximately $41.1 million.
• Several other institutional investors also raised their positions, with institutional ownership reaching 58.33%; Loews director Dino Robusto additionally bought 5,000 shares at $104.74 each.
• Loews reported quarterly earnings of $1.63 per share on $4.55 billion in revenue and announced a $0.0625 quarterly dividend. The stock opened at $116.40, while Weiss Ratings upgraded it to “buy (a-).”

Quantinno Capital Management LP raised its holdings in Loews Corporation (NYSE:L - Free Report) by 14.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 385,466 shares of the insurance provider's stock after purchasing an additional 47,646 shares during the period. Quantinno Capital Management LP owned approximately 0.19% of Loews worth $41,145,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Loews by 12.1% during the 4th 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. UBS Group AG grew its stake in shares of Loews by 4.8% in the 4th quarter. UBS Group AG now owns 811,194 shares of the insurance provider's stock valued at $85,427,000 after buying an additional 37,327 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Loews by 294.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider's stock worth $15,645,000 after buying an additional 110,901 shares during the last quarter. Swedbank AB raised its position in Loews by 4.8% during the fourth quarter. Swedbank AB now owns 464,458 shares of the insurance provider's stock valued at $48,912,000 after acquiring an additional 21,352 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in Loews by 37.4% during the fourth quarter. QRG Capital Management Inc. now owns 37,538 shares of the insurance provider's stock valued at $3,953,000 after acquiring an additional 10,216 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Dino Robusto bought 5,000 shares of the business's stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 19.00% of the stock is currently owned by corporate insiders.

Loews Stock Down 2.1%

L opened at $116.40 on Friday. The firm has a market cap of $23.95 billion, a P/E ratio of 14.79 and a beta of 0.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. The business has a 50 day moving average price of $111.49 and a 200 day moving average price of $109.04. Loews Corporation has a twelve month low of $89.32 and a twelve month high of $121.01.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.The company had revenue of $4.55 billion for the quarter.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews's dividend payout ratio (DPR) is 3.18%.

Analysts Set New Price Targets

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

Loews 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.