Saudi Central Bank Boosts Position in Loews Corporation $L

Saudi Central Bank lifted its position in Loews Corporation (NYSE:L) by 83.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,883 shares of the insurance provider’s stock after buying an additional 5,399 shares during the quarter. Saudi Central Bank’s holdings in Loews were worth $1,345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of L. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Loews during the 2nd quarter valued at $26,000. Fiduciary Financial Advisors bought a new position in Loews in the 2nd quarter worth about $26,000. DV Equities LLC bought a new stake in shares of Loews during the 4th quarter valued at about $25,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Loews during the second quarter worth about $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Loews during the 3rd quarter valued at $30,000. Institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Loews has an average rating of “Strong Buy”.

Loews Stock Down 1.0%

Shares of Loews stock opened at $108.26 on Wednesday. The company has a 50-day moving average of $113.62 and a 200 day moving average of $110.20. Loews Corporation has a 1 year low of $95.29 and a 1 year high of $121.01. The firm has a market cap of $22.13 billion, a price-to-earnings ratio of 13.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. The company had revenue of $4.73 billion for 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 announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s payout ratio is 3.06%.

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.