Loews Corporation $L Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in Loews Corporation (NYSE:L) by 78.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,774 shares of the insurance provider’s stock after acquiring an additional 30,636 shares during the period. Illinois Municipal Retirement Fund’s holdings in Loews were worth $7,448,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. DV Equities LLC acquired a new stake in Loews during the 4th quarter worth $25,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Loews in the fourth quarter valued at about $27,000. Harbor Investment Advisory LLC purchased a new stake in shares of Loews in the fourth quarter valued at about $30,000. Private Trust Co. NA boosted its stake in shares of Loews by 896.7% during the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after buying an additional 269 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews during the third quarter worth about $30,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Up 0.5%

L opened at $114.47 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50 day simple moving average of $109.60 and a 200-day simple moving average of $108.30. The stock has a market capitalization of $23.55 billion, a P/E ratio of 14.55 and a beta of 0.52. Loews Corporation has a 12 month low of $89.32 and a 12 month high of $119.10.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.The firm had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a $0.0625 dividend. The ex-dividend date of this dividend 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 3.18%.

Insider Activity at Loews

In related news, Director Dino Robusto bought 5,000 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the transaction, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 19.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

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.