The Manufacturers Life Insurance Company Buys 23,807 Shares of Loews Corporation $L

The Manufacturers Life Insurance Company lifted its stake in Loews Corporation (NYSE:L) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 279,233 shares of the insurance provider’s stock after acquiring an additional 23,807 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Loews were worth $29,805,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of L. Norges Bank acquired a new position in Loews during the fourth quarter worth $577,279,000. Goldman Sachs Group Inc. increased its stake in shares of Loews by 32.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock worth $340,986,000 after purchasing an additional 786,381 shares during the last quarter. Caisse de depot et placement du Quebec raised its holdings in shares of Loews by 819.0% in the 4th quarter. Caisse de depot et placement du Quebec now owns 448,032 shares of the insurance provider’s stock valued at $47,182,000 after purchasing an additional 399,281 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Loews by 9.5% in the 4th 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 purchasing an additional 344,995 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Loews by 5.7% during 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 during the period. Institutional investors own 58.33% of the company’s stock.

Loews Stock Down 0.3%

Loews stock opened at $115.98 on Friday. The stock has a market cap of $23.87 billion, a P/E ratio of 14.74 and a beta of 0.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a twelve month low of $89.32 and a twelve month high of $121.01. The company’s 50-day moving average price is $111.63 and its two-hundred day moving average price is $109.09.

Loews (NYSE:L) last issued its quarterly earnings data 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 firm had revenue of $4.55 billion during the quarter.

Loews Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock has an average rating of “Strong Buy”.

Insiders Place Their Bets

In other news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average cost of $104.74 per share, for a total transaction 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. This trade represents a 95.51% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 19.00% of the company’s stock.

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.