Empowered Funds LLC purchased a new stake in Loews Corporation (NYSE:L - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,364 shares of the insurance provider's stock, valued at approximately $1,966,000.
Other hedge funds have also modified their holdings of the company. DV Equities LLC purchased a new stake in Loews in the 4th quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in Loews during the second quarter worth about $26,000. Fiduciary Financial Advisors purchased a new position in Loews during the second quarter worth about $26,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Loews during the second quarter valued at about $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews during the third quarter valued at about $30,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded shares of Loews from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Loews currently has a consensus rating of "Strong Buy".
View Our Latest Stock Report on L
Loews Trading Up 1.0%
Shares of NYSE L opened at $110.04 on Friday. The stock has a fifty day simple moving average of $113.89 and a 200-day simple moving average of $110.21. Loews Corporation has a twelve month low of $95.10 and a twelve month high of $121.01. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $22.50 billion, a PE ratio of 13.49 and a beta of 0.51.
Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 EPS for the quarter. The business 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Loews's dividend payout ratio (DPR) is currently 3.06%.
Loews 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.
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