National Pension Service Acquires 8,438 Shares of Loews Corporation $L

National Pension Service raised its stake in shares of Loews Corporation (NYSE:L) by 12.3% during the second quarter, Holdings Channel reports. The firm owned 76,983 shares of the insurance provider’s stock after buying an additional 8,438 shares during the period. National Pension Service’s holdings in Loews were worth $8,715,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of L. California State Teachers Retirement System raised its holdings in shares of Loews by 6,731.5% in the 2nd quarter. California State Teachers Retirement System now owns 49,841,155 shares of the insurance provider’s stock worth $5,642,517,000 after buying an additional 49,111,581 shares in the last quarter. BlackRock Inc. acquired a new stake in Loews in the 2nd quarter valued at $1,621,369,000. Norges Bank acquired a new stake in Loews in the 4th quarter valued at $577,279,000. Geode Capital Management LLC grew its position in Loews by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock valued at $524,599,000 after acquiring an additional 271,234 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Loews by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock valued at $419,581,000 after acquiring an additional 344,995 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Loews Price Performance

Shares of Loews stock opened at $108.66 on Friday. 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 stock has a market capitalization of $22.21 billion, a price-to-earnings ratio of 13.32 and a beta of 0.51. Loews Corporation has a 1-year low of $95.71 and a 1-year high of $121.01. The firm’s 50-day moving average price is $113.21 and its two-hundred day moving average price is $110.19.

Loews (NYSE:L) last posted its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. The company 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 Announces Dividend

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

Analyst Upgrades and Downgrades

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

Loews Profile

Loews Corporation (NYSE:L) is a diversified holding company whose businesses operate primarily in the insurance, energy infrastructure, hospitality and packaging sectors. Rather than operating as a single-industry company, Loews manages a portfolio of independently run subsidiaries and focuses on long-term ownership, financial strength and disciplined capital allocation.

Its principal businesses include CNA Financial Corporation, a commercial property and casualty insurance provider; Boardwalk Pipelines, which owns and operates natural gas pipeline and storage assets; Loews Hotels & Co, which manages luxury and upper-upscale hotels and resorts; and Altium Packaging, a manufacturer of rigid plastic containers and packaging solutions.