Reflection Asset Management Makes New $1.85 Million Investment in Loews Corporation $L

Reflection Asset Management bought a new position in Loews Corporation (NYSE:L) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 17,570 shares of the insurance provider’s stock, valued at approximately $1,850,000. Loews makes up approximately 1.3% of Reflection Asset Management’s portfolio, making the stock its 17th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Loews by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock valued at $2,045,759,000 after purchasing an additional 108,882 shares in the last quarter. Norges Bank bought a new position in Loews in the fourth quarter worth $577,279,000. Geode Capital Management LLC raised its holdings in Loews by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after purchasing an additional 271,234 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Loews by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock valued at $419,581,000 after buying an additional 344,995 shares during the period. Finally, Invesco Ltd. lifted its position in Loews by 0.4% during the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock valued at $337,698,000 after buying an additional 12,311 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Loews Trading Up 0.2%

Loews stock opened at $107.48 on Friday. Loews Corporation has a 12 month low of $88.36 and a 12 month high of $114.90. The business’s fifty day simple moving average is $107.96 and its two-hundred day simple moving average is $107.08. The company has a market capitalization of $22.12 billion, a price-to-earnings ratio of 13.66 and a beta of 0.53. 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 released its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share 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 company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.18%.

Insiders Place Their Bets

In other news, Director Dino Robusto purchased 5,000 shares of the stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.00% of the stock is owned by corporate insiders.

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.