Northwestern Mutual Wealth Management Co. Acquires Shares of 5,347 Loews Corporation $L

Northwestern Mutual Wealth Management Co. bought a new position in Loews Corporation (NYSE:L) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,347 shares of the insurance provider’s stock, valued at approximately $605,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Loews by 0.6% during 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 in the last quarter. BlackRock Inc. purchased a new stake in Loews in the 2nd quarter valued at $1,621,369,000. Norges Bank purchased a new stake in Loews in the 4th quarter valued at $577,279,000. Geode Capital Management LLC increased its stake in shares of Loews by 5.7% in 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 last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Loews by 9.5% in 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 last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Up 0.2%

Shares of NYSE L opened at $111.06 on Thursday. The company has a market capitalization of $22.70 billion, a P/E ratio of 13.61 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. The company has a 50 day simple moving average of $113.92 and a 200-day simple moving average of $110.25. Loews Corporation has a 1 year low of $95.10 and a 1 year high of $121.01.

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

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend 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%.

Analyst Ratings Changes

Separately, Weiss Ratings raised 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 data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Insider Buying and Selling at Loews

In other Loews news, Director Dino Robusto purchased 5,000 shares of the stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director owned 10,235 shares in the company, valued at $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 the SEC website. Corporate 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.