102,689 Shares in Loews Corporation $L Acquired by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec bought a new position in shares of Loews Corporation (NYSE:L) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 102,689 shares of the insurance provider’s stock, valued at approximately $11,625,000.

A number of other hedge funds have also bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Loews by 12.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock valued at $38,724,000 after acquiring an additional 39,968 shares during the period. UBS Group AG lifted its holdings in 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 Loews by 4.8% during the fourth 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 during the period. Deutsche Bank AG bought a new position in Loews during the second quarter worth $69,529,000. Finally, Walleye Capital LLC acquired a new position in shares of Loews in the second quarter valued at $1,605,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research 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 presently has a consensus rating of “Strong Buy”.

Loews Price Performance

Loews stock opened at $109.71 on Friday. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 13.44 and a beta of 0.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews Corporation has a 12 month low of $95.10 and a 12 month high of $121.01. The stock’s 50 day moving average is $114.01 and its 200-day moving average is $110.24.

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

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders 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 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.06%.

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.