OP Asset Management Ltd Purchases New Position in Loews Corporation $L

OP Asset Management Ltd acquired a new position in shares of Loews Corporation (NYSE:L) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 82,099 shares of the insurance provider’s stock, valued at approximately $8,763,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Loews by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock valued at $2,045,759,000 after purchasing an additional 108,882 shares during the last quarter. Norges Bank bought a new stake in Loews in the fourth quarter worth $577,279,000. Geode Capital Management LLC lifted its position in Loews by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after buying an additional 271,234 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Loews by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock worth $419,581,000 after buying an additional 344,995 shares during the period. Finally, Invesco Ltd. boosted its stake in Loews by 0.4% during the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock worth $337,698,000 after buying an additional 12,311 shares during the period. 58.33% of the stock is owned by institutional investors.

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 analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Insiders Place Their Bets

In other Loews news, Director Dino Robusto bought 5,000 shares of Loews stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the purchase, the director directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 19.00% of the stock is currently owned by insiders.

Loews Stock Down 0.9%

Shares of NYSE:L opened at $110.97 on Friday. Loews Corporation has a 1 year low of $89.20 and a 1 year high of $114.90. The business has a 50 day simple moving average of $107.98 and a two-hundred day simple moving average of $107.24. The firm has a market capitalization of $22.83 billion, a PE ratio of 14.10 and a beta of 0.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36.

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

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 27th. 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.