Geode Capital Management LLC Increases Stake in Loews Corporation $L

Geode Capital Management LLC raised its holdings in shares of Loews Corporation (NYSE:L) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,609,107 shares of the insurance provider’s stock after purchasing an additional 28,552 shares during the quarter. Geode Capital Management LLC’s holdings in Loews were worth $420,722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Nuveen LLC purchased a new position in Loews in the 1st quarter valued at approximately $34,166,000. Swedbank AB lifted its holdings 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 buying an additional 172,004 shares in the last quarter. Northern Trust Corp boosted its position in shares of Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider’s stock valued at $206,709,000 after acquiring an additional 151,428 shares during the period. Millennium Management LLC grew its stake in Loews by 140.4% during the first 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. Finally, Aviva PLC increased its holdings in Loews by 1,921.5% during the 2nd quarter. Aviva PLC now owns 138,816 shares of the insurance provider’s stock worth $12,724,000 after acquiring an additional 131,949 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Loews Price Performance

L stock opened at $104.37 on Friday. The firm has a 50 day simple moving average of $99.92 and a two-hundred day simple moving average of $94.21. The stock has a market cap of $21.57 billion, a PE ratio of 16.59 and a beta of 0.73. Loews Corporation has a one year low of $78.98 and a one year high of $105.12. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33.

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 net margin of 7.47% and a return on equity of 7.43%. The firm had revenue of $3.94 billion for the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, November 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio is 3.62%.

Loews 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.