QRG Capital Management Inc. Purchases 14,654 Shares of Loews Corporation $L

QRG Capital Management Inc. lifted its position in shares of Loews Corporation (NYSE:L) by 39.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 52,192 shares of the insurance provider’s stock after purchasing an additional 14,654 shares during the quarter. QRG Capital Management Inc.’s holdings in Loews were worth $5,571,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Groupama Asset Managment purchased a new position in Loews during the third quarter valued at $1,723,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of 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 worth $38,724,000 after buying an additional 39,968 shares during the period. UBS Group AG grew its position in shares of Loews by 4.8% in the 4th quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock worth $85,427,000 after buying an additional 37,327 shares during the period. Accurate Wealth Management LLC bought a new position in shares of Loews in the 4th quarter worth about $2,095,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Loews by 294.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider’s stock worth $15,645,000 after acquiring an additional 110,901 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Insider Activity

In other news, Director Dino Robusto purchased 5,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were purchased at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This represents a 95.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 19.00% of the company’s stock.

Loews Stock Down 0.1%

L stock opened at $116.46 on Monday. The business has a 50 day moving average of $108.43 and a 200 day moving average of $107.71. The firm has a market cap of $23.96 billion, a PE ratio of 14.80 and a beta of 0.52. Loews Corporation has a twelve month low of $89.32 and a twelve month high of $116.58. 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 (NYSE:L) last released its 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 business had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

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

About Loews

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.