6,000 Shares in Loews Corporation $L Bought by RB Capital Management LLC

RB Capital Management LLC purchased a new position in shares of Loews Corporation (NYSE:L) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 6,000 shares of the insurance provider’s stock, valued at approximately $679,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of L. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Loews by 12.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock worth $38,724,000 after purchasing an additional 39,968 shares during the last quarter. UBS Group AG lifted its holdings in shares of Loews by 4.8% during the 4th quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock valued at $85,427,000 after purchasing an additional 37,327 shares during the last quarter. Swedbank AB boosted its position in shares of Loews by 4.8% in the 4th quarter. Swedbank AB now owns 464,458 shares of the insurance provider’s stock worth $48,912,000 after purchasing an additional 21,352 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Loews in the 2nd quarter worth $69,529,000. Finally, Walleye Capital LLC purchased a new position in Loews during the 2nd quarter worth $1,605,000. Institutional investors own 58.33% of the company’s stock.

Loews Stock Down 0.1%

L stock opened at $109.71 on Friday. The stock has a market capitalization of $22.43 billion, a PE ratio of 13.44 and a beta of 0.52. Loews Corporation has a 52 week low of $95.10 and a 52 week high of $121.01. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $114.01 and a 200 day moving average of $110.24.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. The business had revenue of $4.73 billion for the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th 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, August 19th. Loews’s dividend payout ratio is presently 3.06%.

Analyst Ratings Changes

Separately, Weiss Ratings raised Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

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.