Quantbot Technologies LP Invests $4.06 Million in Loews Corporation $L

Quantbot Technologies LP bought a new stake in shares of Loews Corporation (NYSE:L) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,846 shares of the insurance provider’s stock, valued at approximately $4,058,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Loews by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock worth $2,045,759,000 after buying an additional 108,882 shares during the period. BlackRock Inc. bought a new position in shares of Loews during the 2nd quarter valued at approximately $1,621,369,000. Norges Bank purchased a new stake in Loews in the 4th quarter worth approximately $577,279,000. Geode Capital Management LLC raised its stake in Loews by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after acquiring an additional 271,234 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Loews by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock worth $419,581,000 after acquiring an additional 344,995 shares during the period. Institutional investors own 58.33% of the company’s stock.

Loews Price Performance

NYSE:L opened at $109.85 on Monday. The business’s 50-day simple moving average is $113.74 and its two-hundred day simple moving average is $110.21. Loews Corporation has a 52 week low of $95.10 and a 52 week high of $121.01. The stock has a market cap of $22.46 billion, a PE ratio of 13.46 and a beta of 0.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44.

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

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 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews’s dividend payout ratio is presently 3.06%.

Insiders Place Their Bets

In related news, Director Dino Robusto acquired 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the acquisition, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This represents a 95.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 19.00% of the stock is owned by insiders.

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 report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews has a consensus rating of “Strong Buy”.

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.