Loews Corporation $L Shares Acquired by Mufg Securities Americas Inc.

Mufg Securities Americas Inc. increased its position in shares of Loews Corporation (NYSE:L) by 23.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,857 shares of the insurance provider’s stock after purchasing an additional 730 shares during the period. Mufg Securities Americas Inc.’s holdings in Loews were worth $354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evelyn Partners Asset Management Ltd bought a new stake in shares of Loews in the 2nd quarter worth $46,000. AXQ Capital LP bought a new position in Loews during the second quarter valued at about $414,000. Mediolanum International Funds Ltd grew its holdings in Loews by 185.7% during the second quarter. Mediolanum International Funds Ltd now owns 46,722 shares of the insurance provider’s stock worth $4,224,000 after acquiring an additional 30,368 shares during the period. MAI Capital Management raised its position in Loews by 17.0% in the second quarter. MAI Capital Management now owns 1,660 shares of the insurance provider’s stock worth $152,000 after acquiring an additional 241 shares in the last quarter. Finally, Swiss National Bank raised its position in Loews by 3.7% in the second quarter. Swiss National Bank now owns 541,161 shares of the insurance provider’s stock worth $49,603,000 after acquiring an additional 19,100 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Loews presently has a consensus rating of “Strong Buy”.

Loews Stock Performance

Shares of L opened at $107.27 on Tuesday. The company has a 50-day moving average of $100.97 and a two-hundred day moving average of $95.04. The stock has a market cap of $22.17 billion, a price-to-earnings ratio of 17.05 and a beta of 0.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. Loews Corporation has a one year low of $78.98 and a one year high of $107.49.

Loews (NYSE:L) last released its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. The business had revenue of $3.94 billion for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th will be given 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 is Wednesday, November 26th. Loews’s dividend payout ratio (DPR) is 3.62%.

About Loews

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.