Loews Corporation $L Shares Newly Bought by Machina Capital S.A.S.

Machina Capital S.A.S. purchased a new position in shares of Loews Corporation (NYSE:L) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 23,448 shares of the insurance provider’s stock, valued at approximately $2,449,000.

Other institutional investors have also made changes to their positions in the company. AlphaCore Capital LLC lifted its stake in Loews by 253.5% in the third quarter. AlphaCore Capital LLC now owns 7,106 shares of the insurance provider’s stock valued at $742,000 after acquiring an additional 5,096 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in Loews in the third quarter worth approximately $186,000. Allspring Global Investments Holdings LLC grew its position in Loews by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,807,110 shares of the insurance provider’s stock worth $294,887,000 after acquiring an additional 28,502 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Loews during the 3rd quarter worth $1,839,000. Finally, Ethic Inc. increased its stake in shares of Loews by 3.0% during the 3rd quarter. Ethic Inc. now owns 147,452 shares of the insurance provider’s stock worth $15,398,000 after purchasing an additional 4,275 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

NYSE:L opened at $111.41 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a one year low of $101.08 and a one year high of $121.01. The company has a fifty day moving average price of $108.74 and a 200 day moving average price of $109.66. The stock has a market cap of $22.53 billion, a P/E ratio of 15.34 and a beta of 0.49.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, November 2nd. The insurance provider reported $1.50 earnings per share (EPS) for the quarter. Loews had a net margin of 7.93% and a return on equity of 7.60%. The company had revenue of $4.76 billion for the quarter.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Wednesday, November 25th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, November 25th. Loews’s dividend payout ratio (DPR) is presently 3.46%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Loews from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, November 3rd. One analyst has rated the stock with a Buy rating. According to MarketBeat, the company currently has an average rating of “Buy”.

Loews Profile

Loews Corporation is a diversified holding company with businesses in insurance, energy infrastructure and hospitality. Its subsidiaries operate independently, while Loews provides corporate oversight and capital allocation. CNA Financial provides commercial property and casualty insurance, along with related services, to businesses and organizations. Boardwalk Pipelines operates natural gas pipeline and storage infrastructure, primarily in the United States. Loews Hotels & Co owns and operates hotels and resorts, principally in North America.