Fielder Capital Group LLC acquired a new stake in Loews Corporation (NYSE:L - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,995 shares of the insurance provider's stock, valued at approximately $1,245,000.
A number of other institutional investors have also made changes to their positions in L. Integrated Wealth Concepts LLC grew its position in Loews by 22.6% in the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider's stock valued at $329,000 after purchasing an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Loews by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider's stock worth $2,108,000 after buying an additional 2,057 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Loews by 12.2% during the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider's stock worth $350,000 after buying an additional 414 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Loews by 37.5% during the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider's stock worth $1,372,000 after buying an additional 4,071 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Loews by 53.5% during the 2nd quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider's stock worth $656,000 after buying an additional 2,493 shares during the last quarter. Institutional investors own 58.33% of the company's stock.
Loews Price Performance
Shares of L opened at $113.11 on Monday. The company has a market cap of $23.12 billion, a price-to-earnings ratio of 13.86 and a beta of 0.52. Loews Corporation has a 1-year low of $94.36 and a 1-year high of $121.01. The company's fifty day simple moving average is $113.33 and its 200 day simple moving average is $109.96. 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 (NYSE:L - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. The firm had revenue of $4.73 billion for the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%.
Loews Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Loews's dividend payout ratio is presently 3.06%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews currently has a consensus rating of "Strong Buy".
Check Out Our Latest Stock Report on Loews
Insider Activity
In other Loews news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares of the company's stock, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 19.00% of the company's stock.
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.
Further Reading
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