Whittier Trust Co. Boosts Holdings in Loews Corporation $L

Whittier Trust Co. increased its holdings in Loews Corporation (NYSE:L) by 15.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,826 shares of the insurance provider’s stock after purchasing an additional 526 shares during the period. Whittier Trust Co.’s holdings in Loews were worth $351,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in L. Nuveen LLC purchased a new position in Loews in the 1st quarter worth approximately $34,166,000. Swedbank AB increased its stake in Loews by 44.8% in the 1st quarter. Swedbank AB now owns 556,350 shares of the insurance provider’s stock worth $51,134,000 after acquiring an additional 172,004 shares during the last quarter. Northern Trust Corp increased its stake in Loews by 7.2% in the 1st quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider’s stock worth $206,709,000 after acquiring an additional 151,428 shares during the last quarter. Millennium Management LLC increased its stake in Loews by 140.4% in the 1st quarter. Millennium Management LLC now owns 251,175 shares of the insurance provider’s stock worth $23,085,000 after acquiring an additional 146,695 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new stake in Loews in the 1st quarter worth approximately $11,633,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Loews in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Loews Stock Performance

NYSE L opened at $99.92 on Friday. The company has a market cap of $20.73 billion, a P/E ratio of 15.89 and a beta of 0.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The business’s 50 day moving average price is $98.32 and its 200-day moving average price is $92.30. Loews Corporation has a fifty-two week low of $75.16 and a fifty-two week high of $103.52.

Loews (NYSE:L) last released its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The firm had revenue of $4.56 billion for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. Loews’s payout ratio is currently 3.97%.

About Loews

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.