Rakuten Investment Management Inc. Makes New Investment in Loews Corporation $L

Rakuten Investment Management Inc. bought a new stake in Loews Corporation (NYSE:L) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 38,119 shares of the insurance provider’s stock, valued at approximately $3,827,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its holdings in Loews by 22.6% in the 1st 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Loews by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock valued at $2,108,000 after acquiring an additional 2,057 shares during the period. Empowered Funds LLC raised its stake in shares of Loews by 12.2% during the first 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 last quarter. Woodline Partners LP lifted its holdings in shares of Loews by 37.5% during the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock worth $1,372,000 after purchasing an additional 4,071 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Loews by 5.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,208 shares of the insurance provider’s stock worth $1,497,000 after purchasing an additional 784 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Trading Down 0.0%

NYSE:L opened at $102.35 on Friday. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $109.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35. The firm’s fifty day moving average is $105.10 and its 200-day moving average is $99.70. The firm has a market cap of $21.15 billion, a P/E ratio of 14.83 and a beta of 0.61.

Loews (NYSE:L) last released its earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. The business had revenue of $4.67 billion for the quarter. Loews had a net margin of 7.95% and a return on equity of 7.89%.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, November 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio is presently 3.62%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Insider Buying and Selling at Loews

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $105.07, for a total transaction of $5,253,500.00. Following the transaction, the director directly owned 12,909,642 shares in the company, valued at approximately $1,356,416,084.94. This represents a 0.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles M. Diker sold 1,442 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $107.93, for a total transaction of $155,635.06. Following the sale, the director directly owned 21,594 shares of the company’s stock, valued at approximately $2,330,640.42. This trade represents a 6.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 125,770 shares of company stock valued at $13,325,818 over the last ninety days. Insiders own 19.00% of the company’s stock.

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.