Beacon Pointe Advisors LLC bought a new position in shares of Loews Corporation (NYSE:L - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,790 shares of the insurance provider's stock, valued at approximately $1,788,000.
Other hedge funds have also added to or reduced their stakes in the company. DV Equities LLC acquired a new stake in Loews in the 4th quarter worth about $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Loews during the 2nd quarter worth approximately $26,000. Fiduciary Financial Advisors acquired a new position in shares of Loews during the 2nd quarter worth approximately $26,000. Keating Financial Advisory Services Inc. bought a new position in shares of Loews during the second quarter worth approximately $28,000. Finally, Paladin Partners LLC bought a new position in shares of Loews during the second quarter worth approximately $30,000. 58.33% of the stock is owned by institutional investors and hedge funds.
Loews Stock Performance
NYSE L opened at $109.71 on Monday. The firm's 50 day simple moving average is $114.01 and its 200 day simple moving average is $110.23. The firm has a market capitalization of $22.43 billion, a price-to-earnings ratio of 13.44 and a beta of 0.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews Corporation has a 1 year low of $95.10 and a 1 year high of $121.01.
Loews (NYSE:L - Get Free Report) last released its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. The firm had revenue of $4.73 billion during the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.
Loews Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews's dividend payout ratio (DPR) is 3.06%.
Analyst Ratings Changes
Separately, Weiss Ratings upgraded Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Loews has an average rating of "Strong Buy".
Read Our Latest Analysis on L
Loews Company Profile
(
Free Report)
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.
See Also
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