QRG Capital Management Inc. Increases Stock Position in Loews Corporation $L

QRG Capital Management Inc. increased its holdings in Loews Corporation (NYSE:L) by 39.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,192 shares of the insurance provider’s stock after buying an additional 14,654 shares during the period. QRG Capital Management Inc.’s holdings in Loews were worth $5,571,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC raised its stake in shares of Loews by 22.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 658 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Loews by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after buying an additional 2,057 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after buying an additional 414 shares in the last quarter. Woodline Partners LP boosted its position in shares of Loews by 37.5% in the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after acquiring an additional 4,071 shares during the period. Finally, Cetera Investment Advisers boosted its position in shares of Loews by 53.5% in the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock valued at $656,000 after acquiring an additional 2,493 shares during the period. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Dino Robusto acquired 5,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $104.74 per share, with a total value of $523,700.00. Following the acquisition, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.00% of the company’s stock.

Loews Trading Down 0.1%

Shares of L opened at $116.46 on Monday. The firm’s 50 day simple moving average is $108.43 and its 200 day simple moving average is $107.71. The company has a market capitalization of $23.96 billion, a P/E ratio of 14.80 and a beta of 0.52. 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 Corporation has a 1-year low of $89.32 and a 1-year high of $116.58.

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

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is 3.18%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

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.