Hsbc Holdings PLC Takes $71.45 Million Position in Loews Corporation $L

Hsbc Holdings PLC purchased a new position in shares of Loews Corporation (NYSE:L) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 630,332 shares of the insurance provider’s stock, valued at approximately $71,453,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its holdings in Loews by 22.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock valued at $329,000 after buying an additional 658 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Loews by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after buying an additional 2,057 shares during the period. Empowered Funds LLC boosted its stake in Loews by 12.2% during the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after buying an additional 414 shares during the period. Woodline Partners LP increased its position in shares of Loews by 37.5% during the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after acquiring an additional 4,071 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Loews by 53.5% during the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock valued at $656,000 after acquiring an additional 2,493 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. One research 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 Buying and Selling

In other Loews news, Director Dino Robusto purchased 5,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the purchase, the director directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.00% of the stock is owned by corporate insiders.

Loews Price Performance

L stock opened at $111.06 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $22.70 billion, a PE ratio of 13.61 and a beta of 0.52. Loews Corporation has a 12-month low of $95.10 and a 12-month high of $121.01. The business’s fifty day moving average price is $113.92 and its 200 day moving average price is $110.25.

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

Loews Dividend Announcement

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