Loews Corporation $L Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Loews Corporation (NYSE:L) by 72.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,885 shares of the insurance provider’s stock after buying an additional 51,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned 0.06% of Loews worth $13,010,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Groupama Asset Managment acquired a new position in Loews in the 3rd quarter valued at $1,723,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Loews by 12.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock valued at $38,724,000 after purchasing an additional 39,968 shares in the last quarter. UBS Group AG boosted its stake in Loews by 4.8% during the 4th quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock worth $85,427,000 after purchasing an additional 37,327 shares during the last quarter. Accurate Wealth Management LLC acquired a new stake in Loews during the 4th quarter worth $2,095,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Loews by 294.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider’s stock worth $15,645,000 after buying an additional 110,901 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Trading Down 0.1%

Shares of Loews stock opened at $116.46 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. The stock’s 50 day simple moving average is $108.43 and its 200-day simple moving average is $107.70. The stock has a market cap of $23.96 billion, a P/E ratio of 14.80 and a beta of 0.52. Loews Corporation has a 1-year low of $89.32 and a 1-year high of $116.58.

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

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews’s dividend payout ratio is presently 3.18%.

Insider Transactions at Loews

In related news, Director Dino Robusto bought 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 purchase, the director directly owned 10,235 shares of the company’s stock, valued at $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 19.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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