The Manufacturers Life Insurance Company Has $29.80 Million Stock Holdings in Loews Corporation $L

The Manufacturers Life Insurance Company increased its position in shares of Loews Corporation (NYSE:L) by 9.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 279,233 shares of the insurance provider’s stock after purchasing an additional 23,807 shares during the period. The Manufacturers Life Insurance Company owned about 0.14% of Loews worth $29,805,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Lido Advisors LLC grew its position in Loews by 3.9% in the first quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider’s stock valued at $277,000 after acquiring an additional 97 shares during the period. Hancock Whitney Corp raised its stake in Loews by 3.9% during the third quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider’s stock worth $263,000 after acquiring an additional 98 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Loews by 0.3% during the fourth quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider’s stock valued at $3,356,000 after acquiring an additional 100 shares during the period. Independent Advisor Alliance lifted its holdings in shares of Loews by 4.3% during the fourth quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider’s stock valued at $274,000 after acquiring an additional 107 shares during the period. Finally, Ballentine Partners LLC boosted its stake in shares of Loews by 2.7% in the 4th quarter. Ballentine Partners LLC now owns 4,197 shares of the insurance provider’s stock valued at $442,000 after purchasing an additional 111 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Loews news, Director Dino Robusto bought 5,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the purchase, the director owned 10,235 shares in the company, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 19.00% of the company’s stock.

Loews Stock Down 0.3%

Shares of NYSE L opened at $115.98 on Friday. Loews Corporation has a 12-month low of $89.32 and a 12-month high of $121.01. The firm’s 50-day simple moving average is $111.63 and its 200 day simple moving average is $109.09. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The company has a market cap of $23.87 billion, a price-to-earnings ratio of 14.74 and a beta of 0.52.

Loews (NYSE:L) last announced its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The company had revenue of $4.55 billion for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio is 3.18%.

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.