Public Employees Retirement System of Ohio Buys New Stake in Loews Corporation $L

Public Employees Retirement System of Ohio purchased a new position in Loews Corporation (NYSE:L) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 56,572 shares of the insurance provider’s stock, valued at approximately $6,405,000.

Several other institutional investors have also bought and sold shares of the business. Capstone Investment Advisors LLC bought a new stake in shares of Loews in the 2nd quarter worth about $409,000. Corient Private Wealth LP bought a new position in shares of Loews in the 2nd quarter valued at about $8,943,000. Bank of America Corp DE purchased a new position in Loews in the second quarter worth about $79,560,000. Magnolia Capital Advisors LLC purchased a new position in Loews in the second quarter worth about $792,000. Finally, Wallace Capital Management Inc. bought a new stake in Loews during the second quarter worth approximately $27,683,000. Institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock presently has an average rating of “Strong Buy”.

Loews Stock Up 0.3%

Shares of NYSE L opened at $108.59 on Wednesday. Loews Corporation has a 52-week low of $95.10 and a 52-week high of $121.01. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 13.31 and a beta of 0.51. The stock has a 50 day moving average price of $113.97 and a 200 day moving average price of $110.21. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36.

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

Loews Announces Dividend

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

Loews Company 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.