Loews Co. (NYSE:L) Shares Acquired by Schroder Investment Management Group

Posted by Defense World Staff on Jun 4th, 2023

Schroder Investment Management Group increased its position in Loews Co. (NYSE:L – Get Rating) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,986 shares of the insurance provider’s stock after buying an additional 861 shares during the period. Schroder Investment Management Group’s holdings in Loews were worth $1,749,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its holdings in Loews by 416.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 496 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 400 shares during the period. CI Investments Inc. grew its holdings in Loews by 61.8% in the third quarter. CI Investments Inc. now owns 626 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 239 shares during the period. Eagle Bay Advisors LLC purchased a new stake in Loews in the second quarter valued at approximately $36,000. Ronald Blue Trust Inc. grew its holdings in Loews by 165.1% in the fourth quarter. Ronald Blue Trust Inc. now owns 835 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 520 shares during the period. Finally, CWM LLC grew its holdings in Loews by 66.7% in the fourth quarter. CWM LLC now owns 962 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 385 shares during the period. Institutional investors and hedge funds own 64.00% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Loews in a research note on Thursday, May 18th. They set a “buy” rating for the company.

Loews Price Performance

L opened at $58.02 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.53. Loews Co. has a 52-week low of $49.36 and a 52-week high of $65.52. The company has a 50 day moving average of $57.40 and a two-hundred day moving average of $58.19. The company has a market cap of $13.22 billion, a P/E ratio of 13.16 and a beta of 0.83.

Loews (NYSE:L – Get Rating) last released its quarterly earnings data on Monday, May 1st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter. Loews had a net margin of 7.27% and a return on equity of 7.68%. The company had revenue of $3.78 billion during the quarter.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Wednesday, May 24th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $0.25 annualized dividend and a dividend yield of 0.43%. Loews’s dividend payout ratio (DPR) is presently 5.67%.

Insider Activity

In other news, major shareholder Corp Loews bought 34,996 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was acquired at an average cost of $38.93 per share, for a total transaction of $1,362,394.28. Following the completion of the purchase, the insider now owns 243,918,659 shares of the company’s stock, valued at $9,495,753,394.87. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Corp Loews bought 34,996 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was acquired at an average cost of $38.93 per share, for a total transaction of $1,362,394.28. Following the completion of the purchase, the insider now owns 243,918,659 shares of the company’s stock, valued at $9,495,753,394.87. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann E. Berman sold 474 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $56.30, for a total transaction of $26,686.20. Following the completion of the sale, the director now directly owns 3,292 shares in the company, valued at $185,339.60. The disclosure for this sale can be found here. Over the last three months, insiders bought 259,796 shares of company stock worth $14,119,786. 18.30% of the stock is currently owned by company insiders.

Loews Profile

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Loews Corp. is a holding company, which engages in the business of commercial property and casualty insurance, transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. It operates through the following segments: CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation, and Corporate.