Public Employees Retirement System of Ohio Makes New $6.41 Million Investment in Loews Corporation $L

Public Employees Retirement System of Ohio purchased a new stake in shares of Loews Corporation (NYSE:L) in the 2nd quarter, HoldingsChannel reports. The fund purchased 56,572 shares of the insurance provider’s stock, valued at approximately $6,405,000.

A number of other institutional investors have also modified their holdings of L. DV Equities LLC bought a new position in shares of Loews during the 4th quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Loews in the second quarter valued at approximately $26,000. Fiduciary Financial Advisors acquired a new stake in Loews in the second quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. purchased a new position in Loews in the second quarter worth $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Loews in the third quarter worth $30,000. 58.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Loews from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews presently has an average rating of “Strong Buy”.

Loews Price Performance

Shares of L stock opened at $108.59 on Wednesday. Loews Corporation has a fifty-two week low of $95.10 and a fifty-two week high of $121.01. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 13.31 and a beta of 0.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. The stock’s 50-day simple moving average is $113.97 and its 200-day simple moving average is $110.21.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 EPS for the quarter. The firm had revenue of $4.73 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%.

Loews Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is currently 3.06%.

Loews Company 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.