Eurizon Capital SGR S.p.A. Takes $2.49 Million Position in Loews Corporation $L

Eurizon Capital SGR S.p.A. bought a new stake in shares of Loews Corporation (NYSE:L) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 23,620 shares of the insurance provider’s stock, valued at approximately $2,489,000.

Other hedge funds have also recently modified their holdings of the company. National Pension Service raised its position in shares of Loews by 21.4% in the 4th quarter. National Pension Service now owns 57,022 shares of the insurance provider’s stock worth $6,005,000 after purchasing an additional 10,062 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Loews by 1,171.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,508 shares of the insurance provider’s stock worth $369,000 after purchasing an additional 3,232 shares during the last quarter. Intech Investment Management LLC raised its position in Loews by 50.2% in the 4th quarter. Intech Investment Management LLC now owns 46,428 shares of the insurance provider’s stock worth $4,889,000 after buying an additional 15,525 shares during the last quarter. Geode Capital Management LLC raised its position in Loews by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after buying an additional 271,234 shares during the last quarter. Finally, Allstate Corp raised its position in Loews by 190.5% in the 4th quarter. Allstate Corp now owns 16,883 shares of the insurance provider’s stock worth $1,778,000 after buying an additional 11,071 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has an average rating of “Strong Buy”.

Insider Activity

In other Loews news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction dated Friday, May 29th. The stock was purchased at an average price of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director directly owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the sale, the director directly owned 12,480,400 shares of the company’s stock, valued at $1,357,992,324. The trade was a 0.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 19.00% of the stock is owned by corporate insiders.

Loews Price Performance

NYSE L opened at $105.05 on Wednesday. Loews Corporation has a 52 week low of $86.77 and a 52 week high of $114.90. The firm has a market capitalization of $21.62 billion, a P/E ratio of 13.35 and a beta of 0.53. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $107.91 and a 200-day moving average price of $106.99.

Loews (NYSE:L) last released its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The firm had revenue of $4.56 billion during the quarter.

Loews Dividend Announcement

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

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.