Blue Capital Inc. Invests $669,000 in Loews Corporation $L

Blue Capital Inc. purchased a new position in shares of Loews Corporation (NYSE:L) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,295 shares of the insurance provider’s stock, valued at approximately $669,000.

Several other large investors have also made changes to their positions in the business. Norges Bank purchased a new stake in Loews in the second quarter valued at $665,658,000. Nuveen LLC acquired a new stake in Loews in the 1st quarter worth about $34,166,000. Swedbank AB boosted its stake in shares of Loews by 44.8% in the first quarter. Swedbank AB now owns 556,350 shares of the insurance provider’s stock worth $51,134,000 after acquiring an additional 172,004 shares during the last quarter. Northern Trust Corp boosted its stake in Loews by 7.2% during the 1st quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider’s stock worth $206,709,000 after purchasing an additional 151,428 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Loews by 140.4% during the 1st quarter. Millennium Management LLC now owns 251,175 shares of the insurance provider’s stock valued at $23,085,000 after acquiring an additional 146,695 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Down 0.3%

Shares of L opened at $104.31 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $109.06. The stock has a market capitalization of $21.56 billion, a PE ratio of 15.12 and a beta of 0.62. The company’s 50-day simple moving average is $102.76 and its 200-day simple moving average is $96.58.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.The business had revenue of $4.67 billion for the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s payout ratio is currently 3.62%.

Insider Activity

In related news, Director Walter L. Harris sold 1,442 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $107.88, for a total value of $155,562.96. Following the transaction, the director owned 24,594 shares of the company’s stock, valued at $2,653,200.72. This represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ann E. Berman sold 1,444 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $108.10, for a total value of $156,096.40. Following the completion of the transaction, the director owned 6,686 shares in the company, valued at approximately $722,756.60. The trade was a 17.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 75,770 shares of company stock valued at $8,072,318. Insiders own 19.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a report on Monday. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Loews Company Profile

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.