AlphaQuest LLC Purchases 17,340 Shares of Loews Corporation $L

Key Points

• AlphaQuest LLC significantly increased its stake in Loews Corporation by 336.4%, acquiring an additional 17,340 shares, resulting in total holdings valued at approximately $2.06 million.
• Loews Corporation has been drawing interest from multiple institutional investors, with key new stakes valued at up to $60,000, leading to a total institutional ownership of 58.33%.
• Analysts have maintained a "buy (b+)" rating on Loews, with the company recently reporting $1.87 EPS and announcing a quarterly dividend of $0.0625 per share.

AlphaQuest LLC increased its position in shares of Loews Corporation (NYSE:L - Free Report) by 336.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,495 shares of the insurance provider's stock after purchasing an additional 17,340 shares during the period. AlphaQuest LLC's holdings in Loews were worth $2,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of L. Wayfinding Financial LLC bought a new stake in Loews during the 1st quarter valued at approximately $25,000. Sierra Ocean LLC increased its holdings in Loews by 805.9% in the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 274 shares during the last quarter. Elequin Capital LP bought a new stake in Loews in the 1st quarter valued at $30,000. Zions Bancorporation National Association UT bought a new stake in Loews in the 1st quarter valued at $33,000. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of Loews in the second quarter worth about $60,000. 58.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "buy (b+)" rating on shares of Loews in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Loews currently has an average rating of "Buy".

Loews Trading Up 0.1%

L opened at $100.06 on Friday. The stock has a market cap of $20.76 billion, a price-to-earnings ratio of 15.90 and a beta of 0.73. The stock's 50 day moving average price is $98.32 and its 200-day moving average price is $92.30. Loews Corporation has a one year low of $75.16 and a one year high of $103.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. The company had revenue of $4.56 billion for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews's dividend payout ratio (DPR) is 3.97%.

About Loews

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 standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.