Corient Private Wealth LP Purchases New Stake in Loews Corporation $L

Key Points

• Corient Private Wealth LP acquired 78,999 Loews shares during the second quarter, valued at approximately $8.94 million. Other investors also initiated positions, bringing institutional and hedge-fund ownership to 58.33%.
• Weiss Ratings upgraded Loews from “buy (b+)” to “buy (a-),” while MarketBeat data shows a consensus “Strong Buy” rating.
• Loews reported quarterly EPS of $2.16 on $4.73 billion in revenue and declared a $0.0625 quarterly dividend, equivalent to a $0.25 annualized payout and a 0.2% yield.

Corient Private Wealth LP acquired a new position in shares of Loews Corporation (NYSE:L - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 78,999 shares of the insurance provider's stock, valued at approximately $8,943,000.

Other large investors also recently added to or reduced their stakes in the company. Paladin Partners LLC acquired a new stake in Loews in the second quarter worth $30,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Loews during the second quarter worth $26,000. Fiduciary Financial Advisors acquired a new position in shares of Loews in the 2nd quarter valued at $26,000. DV Equities LLC acquired a new position in shares of Loews in the 4th quarter valued at $25,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of Loews in the 2nd quarter valued at $28,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings raised Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Loews has a consensus rating of "Strong Buy".

Loews Stock Down 0.0%

Shares of L stock opened at $109.71 on Monday. Loews Corporation has a 12-month low of $95.10 and a 12-month high of $121.01. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average of $114.01 and a 200-day moving average of $110.23. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 13.44 and a beta of 0.52.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be 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 is Wednesday, August 19th. Loews's dividend payout ratio is 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.

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