Loews Corporation $L Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its holdings in Loews Corporation (NYSE:L) by 8.4% in the second quarter, Holdings Channel reports. The institutional investor owned 107,491 shares of the insurance provider’s stock after selling 9,854 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Loews were worth $12,169,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Loews by 12.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock valued at $38,724,000 after purchasing an additional 39,968 shares during the period. Deutsche Bank AG acquired a new position in shares of Loews during the 2nd quarter worth about $69,529,000. Swedbank AB lifted its stake in Loews by 4.8% in the 4th quarter. Swedbank AB now owns 464,458 shares of the insurance provider’s stock valued at $48,912,000 after buying an additional 21,352 shares in the last quarter. Danske Bank A S purchased a new position in Loews in the 2nd quarter valued at about $1,546,000. Finally, Summit Global Investments acquired a new stake in Loews in the 2nd quarter worth about $1,129,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Loews Trading Down 1.2%

Shares of L stock opened at $108.44 on Tuesday. The stock’s fifty day moving average is $114.01 and its two-hundred day moving average is $110.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $22.17 billion, a P/E ratio of 13.29 and a beta of 0.52. Loews Corporation has a fifty-two week low of $95.10 and a fifty-two week high of $121.01.

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

Loews Dividend Announcement

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

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.