Meeder Advisory Services Inc. Makes New $670,000 Investment in Loews Corporation $L

Meeder Advisory Services Inc. acquired a new stake in Loews Corporation (NYSE:L) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,917 shares of the insurance provider’s stock, valued at approximately $670,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Citizens Financial Group Inc. RI bought a new position in shares of Loews during the 2nd quarter worth $210,000. Buckland Partners Management Co LLC bought a new stake in Loews in the 2nd quarter valued at about $2,717,000. Paladin Partners LLC bought a new stake in Loews in the 2nd quarter valued at about $30,000. BlackRock Inc. purchased a new stake in Loews during the second quarter valued at about $1,621,369,000. Finally, Deutsche Bank AG purchased a new stake in Loews during the second quarter valued at about $69,529,000. 58.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Loews

In other news, Director Dino Robusto purchased 5,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director directly owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.00% of the company’s stock.

Loews Trading Down 0.4%

Shares of L opened at $110.73 on Friday. The firm’s 50 day simple moving average is $113.70 and its 200 day simple moving average is $110.18. The company has a market capitalization of $22.64 billion, a P/E ratio of 13.57 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a 1-year low of $95.10 and a 1-year high of $121.01.

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

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Loews’s dividend payout ratio is 3.06%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews has an average rating of “Strong Buy”.

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.