Mill Capital Management LLC Invests $1.05 Million in Loews Corporation $L

Mill Capital Management LLC purchased a new position in Loews Corporation (NYSE:L) during the second quarter, HoldingsChannel reports. The fund purchased 9,266 shares of the insurance provider’s stock, valued at approximately $1,049,000.

Several other hedge funds have also recently bought and sold shares of L. Walleye Capital LLC purchased a new position in Loews in the 2nd quarter valued at approximately $1,605,000. Walleye Trading LLC purchased a new stake in Loews during the second quarter worth $455,000. Tema ETFs LLC boosted its position in Loews by 65.8% during the second quarter. Tema ETFs LLC now owns 3,640 shares of the insurance provider’s stock worth $412,000 after purchasing an additional 1,444 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in Loews by 2.2% in the second quarter. Contravisory Investment Management Inc. now owns 9,273 shares of the insurance provider’s stock valued at $1,050,000 after purchasing an additional 196 shares during the last quarter. Finally, Czech National Bank grew its holdings in Loews by 4.4% in the second quarter. Czech National Bank now owns 48,027 shares of the insurance provider’s stock valued at $5,437,000 after purchasing an additional 2,011 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Performance

NYSE L opened at $113.11 on Friday. Loews Corporation has a fifty-two week low of $94.36 and a fifty-two week high of $121.01. The stock has a market cap of $23.12 billion, a price-to-earnings ratio of 13.86 and a beta of 0.52. The business has a fifty day moving average of $113.33 and a 200-day moving average of $109.91. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.The business had revenue of $4.73 billion for the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio is presently 3.06%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Loews currently has a consensus rating of “Strong Buy”.

Insider Activity

In other news, Director Dino Robusto acquired 5,000 shares of Loews stock in a transaction that occurred 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 purchase, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.