Swiss National Bank Raises Stock Position in Loews Corporation $L

Swiss National Bank boosted its stake in Loews Corporation (NYSE:L) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 515,561 shares of the insurance provider’s stock after purchasing an additional 32,500 shares during the period. Swiss National Bank’s holdings in Loews were worth $55,031,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its stake in shares of Loews by 22.6% during the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock worth $329,000 after purchasing an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Loews by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock valued at $2,108,000 after buying an additional 2,057 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock valued at $350,000 after buying an additional 414 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Loews by 37.5% during the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after buying an additional 4,071 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of Loews by 53.5% during the 2nd quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock valued at $656,000 after buying an additional 2,493 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Performance

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 firm has a 50-day moving average of $110.03 and a two-hundred day moving average of $108.44. The stock has a market cap of $23.57 billion, a P/E ratio of 14.55 and a beta of 0.52. Loews Corporation has a 1-year low of $89.32 and a 1-year high of $119.10.

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

Loews Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 27th. Loews’s payout ratio is presently 3.18%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Loews from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, July 13th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Loews has a consensus rating of “Buy”.

Insider Transactions at Loews

In related news, Director Dino Robusto acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the purchase, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 19.00% of the stock is owned by company 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.