Deutsche Bank AG Makes New $69.53 Million Investment in Loews Corporation $L

Deutsche Bank AG acquired a new stake in Loews Corporation (NYSE:L) during the second quarter, HoldingsChannel reports. The firm acquired 614,160 shares of the insurance provider’s stock, valued at approximately $69,529,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Perigon Wealth Management LLC purchased a new stake in Loews during the second quarter worth approximately $338,000. Trust Co. of Vermont purchased a new position in Loews in the second quarter valued at approximately $153,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Loews during the second quarter worth approximately $47,846,000. Plato Investment Management Ltd acquired a new stake in Loews during the second quarter worth approximately $806,000. Finally, Bell Investment Advisors Inc purchased a new stake in shares of Loews during the 2nd quarter worth approximately $69,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity

In other Loews news, Director Dino Robusto bought 5,000 shares of the business’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 $1,072,013.90. The trade was a 95.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 19.00% of the company’s stock.

Loews Stock Down 0.4%

Shares of NYSE L opened at $110.73 on Friday. The business has a 50-day moving average price of $113.70 and a 200 day moving average price of $110.18. The stock has a market cap of $22.64 billion, a PE ratio of 13.57 and a beta of 0.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews Corporation has a 52-week low of $95.10 and a 52-week high of $121.01.

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

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is 3.06%.

Analysts Set New Price Targets

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

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.