254,022 Shares in Loews Corporation $L Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Loews Corporation (NYSE:L) during the second quarter, HoldingsChannel.com reports. The firm bought 254,022 shares of the insurance provider’s stock, valued at approximately $28,758,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Loews in the second quarter valued at $1,621,369,000. Norges Bank acquired a new stake in Loews in the 4th quarter valued at about $577,279,000. Great Lakes Advisors LLC acquired a new stake in Loews in the 2nd quarter valued at about $184,377,000. Bank of New York Mellon Corp purchased a new position in Loews during the 2nd quarter valued at about $107,461,000. Finally, Front Street Capital Management Inc. purchased a new position in Loews during the 2nd quarter valued at about $16,310,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised 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, Loews has a consensus rating of “Strong Buy”.

Loews Trading Down 1.1%

Shares of Loews stock opened at $109.69 on Friday. Loews Corporation has a fifty-two week low of $95.10 and a fifty-two week high of $121.01. The business’s fifty day moving average is $113.96 and its two-hundred day moving average is $110.24. 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 has a market cap of $22.42 billion, a PE ratio of 13.44 and a beta of 0.52.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 EPS 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Loews’s dividend payout ratio (DPR) is presently 3.06%.

Loews 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.