Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Position in Loews Corporation $L

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Loews Corporation (NYSE:L) by 72.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 121,885 shares of the insurance provider’s stock after acquiring an additional 51,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Loews were worth $13,010,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Groupama Asset Managment purchased a new stake in shares of Loews during the 3rd quarter valued at approximately $1,723,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Loews by 12.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock valued at $38,724,000 after acquiring an additional 39,968 shares during the last quarter. UBS Group AG grew its position in Loews by 4.8% in the fourth quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock worth $85,427,000 after acquiring an additional 37,327 shares during the period. Accurate Wealth Management LLC purchased a new position in Loews in the fourth quarter worth approximately $2,095,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Loews by 294.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider’s stock worth $15,645,000 after acquiring an additional 110,901 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Trading Down 0.1%

Shares of L stock opened at $116.46 on Friday. The company has a 50-day moving average of $108.43 and a two-hundred day moving average of $107.70. The firm has a market cap of $23.96 billion, a PE ratio of 14.80 and a beta of 0.52. Loews Corporation has a 1-year low of $89.32 and a 1-year high of $116.58. 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 posted its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The firm had revenue of $4.55 billion during the quarter.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a $0.0625 dividend. The ex-dividend date was 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 3.18%.

Insider Buying and Selling

In related news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction on Friday, May 29th. The shares were bought 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 trade represents a 95.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has a consensus 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.