Prudential PLC Has $267,000 Stake in Loews Corporation $L

Prudential PLC decreased its position in Loews Corporation (NYSE:L) by 70.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,533 shares of the insurance provider’s stock after selling 5,962 shares during the period. Prudential PLC’s holdings in Loews were worth $267,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of L. Integrated Wealth Concepts LLC lifted its holdings in 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Loews by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock valued at $2,108,000 after buying an additional 2,057 shares during the period. Empowered Funds LLC lifted its holdings in Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock valued at $350,000 after buying an additional 414 shares during the period. Woodline Partners LP increased its stake in Loews by 37.5% in the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after purchasing an additional 4,071 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in Loews by 53.5% in the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock valued at $656,000 after purchasing an additional 2,493 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity

In other news, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the sale, the director directly owned 12,480,400 shares of the company’s stock, valued at $1,357,992,324. The trade was a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dino Robusto bought 5,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the transaction, the director owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 19.00% of the company’s stock.

Loews Trading Down 1.4%

L opened at $106.07 on Tuesday. Loews Corporation has a 1-year low of $86.77 and a 1-year 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 company has a market cap of $21.82 billion, a P/E ratio of 13.48 and a beta of 0.53. The company has a fifty day moving average price of $107.84 and a two-hundred day moving average price of $107.04.

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

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.0625 per share. 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 payout ratio is presently 3.18%.

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 research analyst has rated the stock with a Strong Buy rating, Based on data from 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.