Railway Pension Investments Ltd Trims Position in Loews Corporation $L

Railway Pension Investments Ltd reduced its holdings in Loews Corporation (NYSE:L) by 16.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 63,400 shares of the insurance provider’s stock after selling 12,100 shares during the quarter. Railway Pension Investments Ltd’s holdings in Loews were worth $7,178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in L. BlackRock Inc. acquired a new stake in Loews in the second quarter valued at approximately $1,621,369,000. Norges Bank bought a new position in shares of Loews during the fourth quarter worth about $577,279,000. Ancora Advisors LLC bought a new stake in shares of Loews in the 2nd quarter valued at approximately $30,398,000. Legal & General Group Plc acquired a new stake in shares of Loews during the second quarter worth $140,248,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Loews during the 2nd quarter valued at about $184,377,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Trading Down 1.2%

Loews stock opened at $108.44 on Tuesday. 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 Corporation has a 1 year low of $95.10 and a 1 year high of $121.01. The firm has a market cap of $22.17 billion, a price-to-earnings ratio of 13.29 and a beta of 0.52. The firm’s 50 day moving average price is $114.01 and its two-hundred day moving average price is $110.22.

Loews (NYSE:L) last released its earnings results 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 business had revenue of $4.73 billion for the quarter.

Loews Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded 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, According to MarketBeat, Loews presently has a consensus rating of “Strong Buy”.

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.