5,347 Shares in Loews Corporation $L Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. bought a new stake in Loews Corporation (NYSE:L) in the 2nd quarter, Holdings Channel.com reports. The fund bought 5,347 shares of the insurance provider’s stock, valued at approximately $605,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in L. Integrated Wealth Concepts LLC grew its stake in shares of Loews by 22.6% in the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock valued at $329,000 after buying an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Loews by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after acquiring an additional 2,057 shares in the last quarter. Empowered Funds LLC boosted its holdings in Loews by 12.2% during the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock valued at $350,000 after acquiring an additional 414 shares during the period. Woodline Partners LP boosted its holdings in Loews by 37.5% during the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after acquiring an additional 4,071 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Loews by 53.5% during the 2nd quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock valued at $656,000 after acquiring an additional 2,493 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling

In related news, Director Dino Robusto purchased 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.00% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Loews Stock Performance

Shares of L stock opened at $111.06 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews Corporation has a 52 week low of $95.10 and a 52 week high of $121.01. The stock has a market capitalization of $22.70 billion, a PE ratio of 13.61 and a beta of 0.52. The firm has a 50 day moving average of $113.92 and a two-hundred day moving average of $110.25.

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

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Loews’s payout ratio is presently 3.06%.

About Loews

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.