Rakuten Investment Management Inc. Invests $3.14 Million in Loews Corporation $L

Key Points

• Rakuten Investment Management bought 27,657 Loews shares in the second quarter, valued at approximately $3.14 million. Other hedge funds also initiated positions, while institutional investors and hedge funds collectively own 58.33% of the stock.
• Loews reported quarterly earnings of $2.16 per share on $4.73 billion in revenue, with an 8.60% return on equity and a 9.02% net margin.
• The company declared a quarterly dividend of $0.0625, or $0.25 annualized, equating to a 0.2% yield. Weiss Ratings upgraded Loews to “buy (a-),” and MarketBeat data shows an average analyst rating of “Strong Buy.”

Rakuten Investment Management Inc. bought a new stake in shares of Loews Corporation (NYSE:L - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 27,657 shares of the insurance provider's stock, valued at approximately $3,144,000.

A number of other hedge funds have also recently bought and sold shares of the company. Paladin Partners LLC bought a new stake in Loews in the second quarter worth about $30,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Loews in the 2nd quarter valued at about $26,000. Fiduciary Financial Advisors bought a new position in shares of Loews during the 2nd quarter valued at about $26,000. DV Equities LLC bought a new position in shares of Loews during the 4th quarter valued at about $25,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in shares of Loews in the 2nd quarter worth approximately $28,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Performance

L opened at $109.71 on Monday. The firm has a market cap of $22.43 billion, a PE ratio of 13.44 and a beta of 0.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $114.01 and a 200-day simple moving average of $110.23. Loews Corporation has a fifty-two week low of $95.10 and a fifty-two week high of $121.01.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. The business 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid 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 (DPR) is currently 3.06%.

Analyst Upgrades and Downgrades

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