SEB Asset Management AB Makes New $7.93 Million Investment in Loews Corporation $L

Key Points

• SEB Asset Management AB opened a new position in Loews Corporation, buying 74,276 shares valued at about $7.93 million in the first quarter.
• Institutional interest in Loews remains strong, with large holders like Vanguard, Norges Bank, and Geode Capital Management also adjusting or adding to positions; institutions now own 58.33% of the stock.
• Loews has seen mixed signals from the market: Weiss Ratings trimmed its view from “buy (a-)” to “buy (b+)”, while the company recently reported quarterly EPS of $1.63 and maintains a small dividend yield of about 0.2%.

SEB Asset Management AB bought a new position in Loews Corporation (NYSE:L - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 74,276 shares of the insurance provider's stock, valued at approximately $7,928,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Loews by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider's stock valued at $2,045,759,000 after buying an additional 108,882 shares during the period. Norges Bank bought a new stake in Loews during the 4th quarter valued at approximately $577,279,000. Geode Capital Management LLC boosted its position in Loews by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider's stock valued at $524,599,000 after acquiring an additional 271,234 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Loews by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider's stock worth $419,581,000 after acquiring an additional 344,995 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Loews by 0.4% during the 3rd quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider's stock worth $337,698,000 after acquiring an additional 12,311 shares during the period. Institutional investors own 58.33% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Loews presently has a consensus rating of "Buy".

Insider Activity at Loews

In related news, Director Dino Robusto purchased 5,000 shares of the company's stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost 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 $1,072,013.90. This trade represents a 95.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 19.00% of the stock is currently owned by corporate insiders.

Loews Stock Down 0.0%

NYSE:L opened at $114.53 on Wednesday. The firm's 50-day moving average price is $110.03 and its 200-day moving average price is $108.44. The company has a market capitalization of $23.57 billion, a PE ratio of 14.55 and a beta of 0.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a 1-year low of $89.32 and a 1-year high of $119.10.

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

Loews Announces Dividend

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

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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