Intech Investment Management LLC Buys 15,525 Shares of Loews Corporation $L

Intech Investment Management LLC lifted its stake in Loews Corporation (NYSE:L) by 50.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,428 shares of the insurance provider’s stock after purchasing an additional 15,525 shares during the period. Intech Investment Management LLC’s holdings in Loews were worth $4,889,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in L. Geode Capital Management LLC raised its stake in Loews by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after buying an additional 271,234 shares during the period. Allstate Corp raised its stake in Loews by 190.5% during the 4th quarter. Allstate Corp now owns 16,883 shares of the insurance provider’s stock worth $1,778,000 after buying an additional 11,071 shares during the period. Summitry LLC raised its stake in Loews by 27.1% during the 4th quarter. Summitry LLC now owns 2,836 shares of the insurance provider’s stock worth $299,000 after buying an additional 604 shares during the period. Clearstead Advisors LLC raised its stake in Loews by 118.0% during the 4th quarter. Clearstead Advisors LLC now owns 532 shares of the insurance provider’s stock worth $56,000 after buying an additional 288 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in Loews by 18.2% during the 4th quarter. Hantz Financial Services Inc. now owns 825 shares of the insurance provider’s stock worth $87,000 after buying an additional 127 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Insider Activity

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total value of $5,440,500.00. Following the sale, the director owned 12,480,400 shares of the company’s stock, valued at $1,357,992,324. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 19.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Strong Buy”.

Loews Stock Performance

Shares of Loews stock opened at $103.61 on Monday. The company has a market capitalization of $21.32 billion, a PE ratio of 13.17 and a beta of 0.53. Loews Corporation has a 12 month low of $86.77 and a 12 month high of $114.90. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $107.95 and its 200 day simple moving average is $106.99.

Loews (NYSE:L) last released its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.The firm had revenue of $4.56 billion for the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is currently 3.18%.

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.