Louisiana State Employees Retirement System Buys Shares of 8,600 Loews Corporation $L

Louisiana State Employees Retirement System purchased a new stake in Loews Corporation (NYSE:L) during the first quarter, according to its most recent filing with the SEC. The firm purchased 8,600 shares of the insurance provider’s stock, valued at approximately $918,000.

Several other large investors have also recently made changes to their positions in the stock. Groupama Asset Managment acquired a new stake in Loews in the 3rd quarter worth approximately $1,723,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Loews by 12.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock valued at $38,724,000 after purchasing an additional 39,968 shares in the last quarter. UBS Group AG raised its holdings in shares of Loews by 4.8% in the fourth quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock worth $85,427,000 after buying an additional 37,327 shares during the last quarter. Accurate Wealth Management LLC purchased a new position in shares of Loews in the fourth quarter worth $2,095,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Loews by 294.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider’s stock worth $15,645,000 after buying an additional 110,901 shares during the period. 58.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Insider Activity at Loews

In other Loews news, Director Dino Robusto acquired 5,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the acquisition, the director directly owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 19.00% of the stock is owned by company insiders.

Loews Trading Down 0.1%

Shares of NYSE:L opened at $116.46 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a 52-week low of $89.32 and a 52-week high of $116.58. The stock has a market cap of $23.96 billion, a price-to-earnings ratio of 14.80 and a beta of 0.52. The business has a 50-day moving average price of $108.43 and a 200-day moving average price of $107.71.

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

Loews Announces Dividend

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

Loews Company 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.