First Trust Advisors LP Boosts Stock Position in Loews Corporation $L

Key Points

• First Trust Advisors LP increased its Loews position by 4.3% in the first quarter, bringing its holdings to 419,635 shares valued at approximately $44.8 million. Institutional investors and hedge funds collectively own 58.33% of Loews.
• Loews reported quarterly EPS of $1.63 on revenue of $4.55 billion, with an 8.51% return on equity and an 8.83% net margin. The stock opened at $117.88, near its 52-week high of $119.10.
• The company declared a quarterly dividend of $0.0625 per share, equal to an annualized $0.25 dividend and a 0.2% yield. MarketBeat reports an average analyst rating of “Buy,” although Weiss Ratings downgraded the stock from “buy (a-)” to “buy (b+).”

First Trust Advisors LP lifted its position in shares of Loews Corporation (NYSE:L - Free Report) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 419,635 shares of the insurance provider's stock after buying an additional 17,492 shares during the quarter. First Trust Advisors LP owned approximately 0.20% of Loews worth $44,792,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in L. Integrated Wealth Concepts LLC increased its stake in shares of Loews by 22.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider's stock valued at $329,000 after acquiring an additional 658 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Loews by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider's stock valued at $2,108,000 after acquiring an additional 2,057 shares during the period. Empowered Funds LLC raised its position in Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider's stock valued at $350,000 after purchasing an additional 414 shares during the period. Woodline Partners LP raised its holdings 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 valued at $1,372,000 after buying an additional 4,071 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Loews by 53.5% during the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider's stock worth $656,000 after purchasing an additional 2,493 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

Shares of NYSE L opened at $117.88 on Monday. Loews Corporation has a 52-week low of $89.32 and a 52-week high of $119.10. The stock has a market capitalization of $24.26 billion, a P/E ratio of 14.98 and a beta of 0.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The firm's 50-day moving average price is $110.69 and its two-hundred day moving average price is $108.66.

Loews (NYSE:L - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.The firm had revenue of $4.55 billion during the quarter.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews's payout ratio is currently 3.18%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Loews presently has an average rating of "Buy".

Insider Transactions at Loews

In other Loews news, Director Dino Robusto purchased 5,000 shares of the firm's stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the purchase, the director owned 10,235 shares in the company, valued at $1,072,013.90. This trade represents a 95.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.00% of the company's stock.

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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