Denali Advisors LLC Makes New Investment in Loews Corporation $L

Key Points

• Denali Advisors LLC has acquired a new stake in Loews Corporation, purchasing 4,514 shares valued at approximately $414,000 during the second quarter.
• Analysts have a generally positive outlook on Loews, with a recent report from Weiss Ratings affirming a "buy (b+)" rating for the stock.
• Loews Corporation has declared a quarterly dividend of $0.0625 per share, representing an annualized yield of 0.3% and a payout ratio of 3.97%.

Denali Advisors LLC acquired a new stake in shares of Loews Corporation (NYSE:L - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,514 shares of the insurance provider's stock, valued at approximately $414,000.

Several other hedge funds have also recently made changes to their positions in L. Wayfinding Financial LLC purchased a new position in shares of Loews during the first quarter valued at approximately $25,000. Sierra Ocean LLC raised its holdings in shares of Loews by 805.9% during the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 274 shares during the last quarter. Elequin Capital LP purchased a new position in shares of Loews during the first quarter valued at approximately $30,000. Zions Bancorporation National Association UT purchased a new position in shares of Loews during the first quarter valued at approximately $33,000. Finally, Trust Co. of Toledo NA OH purchased a new position in shares of Loews during the second quarter valued at approximately $60,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Loews Stock Up 0.5%

Shares of L stock opened at $99.95 on Thursday. Loews Corporation has a 12 month low of $75.16 and a 12 month high of $103.52. The stock has a market cap of $20.73 billion, a P/E ratio of 15.89 and a beta of 0.73. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The company has a 50 day simple moving average of $98.24 and a two-hundred day simple moving average of $92.17.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, August 20th. Loews's dividend payout ratio is presently 3.97%.

Loews Company 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 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.

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