Louisiana State Employees Retirement System Acquires New Stake in Loews Corporation $L

Louisiana State Employees Retirement System acquired a new stake in Loews Corporation (NYSE:L) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,600 shares of the insurance provider’s stock, valued at approximately $918,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of L. DV Equities LLC purchased a new stake in shares of Loews during the fourth quarter valued at $25,000. Harbor Capital Advisors Inc. purchased a new position in Loews in the 4th quarter worth about $27,000. Harbor Investment Advisory LLC purchased a new position in Loews in the 4th quarter worth about $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Loews during the 3rd quarter valued at about $30,000. Finally, Private Trust Co. NA lifted its holdings in Loews by 896.7% during the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock valued at $31,000 after buying an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company has an average rating of “Strong Buy”.

Insider Activity 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 purchased at an average price of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 19.00% of the company’s stock.

Loews Price Performance

Shares of L stock opened at $116.46 on Monday. Loews Corporation has a twelve month low of $89.32 and a twelve month high of $116.58. The stock has a market capitalization of $23.96 billion, a price-to-earnings ratio of 14.80 and a beta of 0.52. The stock has a fifty day simple moving average of $108.43 and a two-hundred day simple moving average of $107.71. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

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

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders 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 annualized dividend and a dividend yield of 0.2%. Loews’s payout ratio is currently 3.18%.

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.