Prudential PLC Acquires 6,847 Shares of Loews Co. (NYSE:L)

Prudential PLC boosted its holdings in Loews Co. (NYSE:L) by 50.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,533 shares of the insurance provider’s stock after acquiring an additional 6,847 shares during the quarter. Prudential PLC’s holdings in Loews were worth $1,191,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TCI Wealth Advisors Inc. lifted its position in Loews by 108.1% in the 1st quarter. TCI Wealth Advisors Inc. now owns 489 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 254 shares in the last quarter. Ellevest Inc. raised its stake in Loews by 114.2% during the 1st quarter. Ellevest Inc. now owns 484 shares of the insurance provider’s stock valued at $28,000 after buying an additional 258 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Loews by 416.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 496 shares of the insurance provider’s stock valued at $29,000 after buying an additional 400 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Loews during the 1st quarter valued at $35,000. Finally, Eagle Bay Advisors LLC purchased a new stake in Loews during the 2nd quarter valued at $36,000. 54.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Loews news, major shareholder Corp Loews purchased 4,456,050 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average price of $39.29 per share, for a total transaction of $175,078,204.50. Following the purchase, the insider now owns 248,414,738 shares of the company’s stock, valued at approximately $9,760,215,056.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.30% of the stock is currently owned by company insiders.

Loews Trading Up 0.3 %

NYSE:L opened at $62.30 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of 11.84 and a beta of 0.84. Loews Co. has a one year low of $49.36 and a one year high of $63.93. The business has a fifty day moving average price of $61.46 and a 200-day moving average price of $59.15.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, July 31st. The insurance provider reported $1.58 EPS for the quarter. The firm had revenue of $3.93 billion during the quarter. Loews had a return on equity of 8.72% and a net margin of 8.21%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Wednesday, August 16th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $0.25 dividend on an annualized basis and a yield of 0.40%. Loews’s payout ratio is presently 4.75%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Loews in a research note on Thursday, August 17th. They set a “buy” rating for the company.

Loews Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.