Man Group plc Invests $2.95 Million in Loews Corporation $L

Man Group plc purchased a new position in Loews Corporation (NYSE:L) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 26,084 shares of the insurance provider’s stock, valued at approximately $2,953,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Bancorp Inc ME bought a new position in Loews during the 2nd quarter worth approximately $194,000. Jupiter Topco LLC bought a new stake in shares of Loews in the 2nd quarter valued at approximately $3,631,000. Hsbc Holdings PLC bought a new stake in shares of Loews in the 2nd quarter valued at approximately $71,453,000. Ancora Advisors LLC acquired a new stake in shares of Loews during the 2nd quarter valued at approximately $5,090,000. Finally, Canada Pension Plan Investment Board bought a new position in Loews during the second quarter worth $3,419,000. 58.33% of the stock is owned by institutional investors.

Loews Stock Down 1.2%

NYSE:L opened at $108.44 on Tuesday. 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 50 day moving average of $114.01 and a 200-day moving average of $110.22. The firm has a market capitalization of $22.17 billion, a PE ratio of 13.29 and a beta of 0.52. Loews Corporation has a 52 week low of $95.10 and a 52 week high of $121.01.

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

Loews Dividend Announcement

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 issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s payout ratio is 3.06%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

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.