Swiss National Bank Raises Position in Loews Corporation $L

Key Points

• Swiss National Bank increased its Loews stake by 6.7% in the first quarter, buying 32,500 additional shares and bringing its total holding to 515,561 shares valued at about $55.0 million.
• Loews reported solid recent financial results with quarterly EPS of $1.63 on revenue of $4.55 billion, while the stock was trading near $114.53, close to its 52-week high of $119.10.
• Insider and institutional interest remains notable, as hedge funds own 58.33% of the stock and director Dino Robusto recently bought 5,000 shares, increasing his ownership by 95.51%.

Swiss National Bank lifted its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 6.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 515,561 shares of the insurance provider's stock after purchasing an additional 32,500 shares during the quarter. Swiss National Bank owned about 0.25% of Loews worth $55,031,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in L. DV Equities LLC purchased a new stake in Loews in the 4th quarter valued at about $25,000. Harbor Capital Advisors Inc. acquired a new position in shares of Loews during the 4th quarter valued at about $27,000. Harbor Investment Advisory LLC purchased a new position in shares of Loews during the 4th quarter worth about $30,000. Private Trust Co. NA lifted its holdings in shares of Loews by 896.7% during the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider's stock worth $31,000 after acquiring an additional 269 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews in the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Analysts Set New Price Targets

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

Loews Trading Down 0.0%

Shares of L opened at $114.53 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $23.57 billion, a P/E ratio of 14.55 and a beta of 0.52. The stock's fifty day simple moving average is $110.03 and its 200 day simple moving average is $108.44. Loews Corporation has a twelve month low of $89.32 and a twelve month high of $119.10.

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

Loews Dividend Announcement

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

Insider Buying and Selling at Loews

In other news, Director Dino Robusto bought 5,000 shares of the firm's stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director owned 10,235 shares of the company's stock, valued at $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 19.00% of the stock is owned by corporate insiders.

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.

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