AustralianSuper Pty Ltd Has $25.71 Million Stock Holdings in Loews Corporation $L

AustralianSuper Pty Ltd lifted its position in shares of Loews Corporation (NYSE:L) by 103.8% during the fourth quarter, HoldingsChannel reports. The firm owned 244,107 shares of the insurance provider’s stock after buying an additional 124,327 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Loews were worth $25,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Loews by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock valued at $2,045,759,000 after acquiring an additional 108,882 shares during the period. Invesco Ltd. grew its stake in Loews by 0.4% in the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock valued at $337,698,000 after acquiring an additional 12,311 shares during the period. Legal & General Group Plc grew its stake in Loews by 0.4% in the third quarter. Legal & General Group Plc now owns 1,340,867 shares of the insurance provider’s stock valued at $134,610,000 after acquiring an additional 4,792 shares during the period. UBS Group AG grew its stake 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. Finally, California State Teachers Retirement System grew its stake in Loews by 12.1% in the third quarter. California State Teachers Retirement System now owns 777,030 shares of the insurance provider’s stock valued at $78,006,000 after acquiring an additional 83,669 shares during the period. 58.33% of the stock is owned by institutional investors.

Loews Trading Up 0.6%

Shares of NYSE:L opened at $105.86 on Friday. Loews Corporation has a 12 month low of $86.77 and a 12 month high of $114.90. 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’s fifty day simple moving average is $108.15 and its 200 day simple moving average is $106.44. The firm has a market cap of $21.78 billion, a price-to-earnings ratio of 13.45 and a beta of 0.56.

Loews (NYSE:L) last released its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. The firm had revenue of $4.56 billion during the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a dividend of $0.0625 per share. The ex-dividend date is Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.18%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Strong Buy”.

Insider Buying and Selling

In related news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the transaction, the director owned 12,480,400 shares in the company, valued at approximately $1,357,992,324. This trade represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.00% of the company’s stock.

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.