OMERS ADMINISTRATION Corp Acquires Shares of 9,689 Loews Corporation $L

OMERS ADMINISTRATION Corp acquired a new position in shares of Loews Corporation (NYSE:L) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,689 shares of the insurance provider’s stock, valued at approximately $1,097,000.

Several other hedge funds and other institutional investors also recently modified their holdings of L. DV Equities LLC bought a new position in shares of Loews during the fourth quarter worth about $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Loews in the second quarter worth about $26,000. Keating Financial Advisory Services Inc. bought a new stake in Loews in the second quarter valued at about $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Loews in the third quarter valued at about $30,000. Finally, Paladin Partners LLC acquired a new stake in Loews during the second quarter valued at approximately $30,000. Institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of NYSE L opened at $109.69 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $113.96 and its two-hundred day moving average price is $110.24. Loews Corporation has a 52-week low of $95.10 and a 52-week high of $121.01. The stock has a market capitalization of $22.42 billion, a P/E ratio of 13.44 and a beta of 0.52.

Loews (NYSE:L) last issued its earnings results on Monday, August 3rd. The insurance provider reported $2.16 EPS for the quarter. The company 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be given a $0.0625 dividend. 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 is 3.06%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Loews from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 28th. One investment 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”.

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.