Plato Investment Management Ltd Makes New Investment in Loews Corporation $L

Plato Investment Management Ltd bought a new position in Loews Corporation (NYSE:L) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,158 shares of the insurance provider’s stock, valued at approximately $806,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Loews by 12.1% during the fourth 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 last quarter. UBS Group AG lifted its holdings in Loews by 4.8% in the fourth quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock valued at $85,427,000 after acquiring an additional 37,327 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Loews by 294.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider’s stock worth $15,645,000 after purchasing an additional 110,901 shares during the last quarter. Swedbank AB boosted its position in Loews by 4.8% in 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 last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Loews during the 2nd quarter valued at about $1,605,000. Institutional investors own 58.33% of the company’s stock.

Loews Trading Up 0.2%

Loews stock opened at $112.57 on Wednesday. Loews Corporation has a 1 year low of $94.53 and a 1 year high of $121.01. The firm’s 50 day moving average price is $113.57 and its 200-day moving average price is $110.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $23.01 billion, a P/E ratio of 13.80 and a beta of 0.52.

Loews (NYSE:L) last issued its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. The firm had revenue of $4.73 billion during 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 disclosed 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 presently 3.06%.

Insider Activity

In other news, Director Dino Robusto bought 5,000 shares of Loews stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This trade represents a 95.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 19.00% 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 equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews currently 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.