Intech Investment Management LLC Acquires 15,525 Shares of Loews Corporation $L

Intech Investment Management LLC raised its position in Loews Corporation (NYSE:L) by 50.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 46,428 shares of the insurance provider’s stock after buying an additional 15,525 shares during the period. Intech Investment Management LLC’s holdings in Loews were worth $4,889,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of L. Danske Bank A S bought a new position in Loews in the 3rd quarter valued at $35,724,000. Geode Capital Management LLC boosted its position in Loews by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock valued at $524,599,000 after buying an additional 271,234 shares during the last quarter. Arbejdsmarkedets Tillaegspension bought a new position in Loews in the 4th quarter valued at $23,883,000. Dark Forest Capital Management LP boosted its position in Loews by 582.8% in the 3rd quarter. Dark Forest Capital Management LP now owns 221,212 shares of the insurance provider’s stock valued at $22,207,000 after buying an additional 188,812 shares during the last quarter. Finally, Amundi boosted its position in Loews by 41.6% in the 3rd quarter. Amundi now owns 610,657 shares of the insurance provider’s stock valued at $62,513,000 after buying an additional 179,383 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total value of $5,440,500.00. Following the transaction, the director directly owned 12,480,400 shares in the company, valued at $1,357,992,324. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.00% of the stock is owned by corporate insiders.

Loews Stock Up 0.1%

Shares of L opened at $103.61 on Monday. Loews Corporation has a 52 week low of $86.77 and a 52 week high of $114.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $21.32 billion, a price-to-earnings ratio of 13.17 and a beta of 0.53. The business’s fifty day moving average price is $107.95 and its two-hundred day moving average price is $106.99.

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. Loews had a return on equity of 8.51% and a net margin of 8.83%.The business had revenue of $4.56 billion for the quarter.

Loews Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently 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.