Mediolanum International Funds Ltd Makes New Investment in Loews Corporation $L

Mediolanum International Funds Ltd purchased a new stake in Loews Corporation (NYSE:L) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,892 shares of the insurance provider’s stock, valued at approximately $941,000.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Loews Stock Performance

Shares of NYSE:L opened at $114.53 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. The business’s fifty day moving average price is $110.03 and its two-hundred day moving average price is $108.44. Loews Corporation has a fifty-two week low of $89.32 and a fifty-two week high of $119.10. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of 14.55 and a beta of 0.52.

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

Loews Dividend Announcement

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

Insider Transactions at Loews

In other news, Director Dino Robusto purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased 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. This trade represents a 95.51% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.00% of the stock is owned by corporate insiders.

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.