Great Lakes Advisors LLC Invests $771,000 in Loews Corporation $L

Key Points

• Great Lakes Advisors purchased 75,559 Loews shares worth approximately $771,000 in the second quarter. Institutional investors collectively own 58.33% of the company.
• Loews reported quarterly earnings of $2.16 per share on $4.73 billion in revenue, with a 9.02% net margin and 8.60% return on equity.
• The company declared a quarterly dividend of $0.0625 per share, equal to a $0.25 annualized payout and a 0.2% yield. Shares opened at $109.85, down 0.8%.

Great Lakes Advisors LLC bought a new position in Loews Corporation (NYSE:L - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 75,559 shares of the insurance provider's stock, valued at approximately $771,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in Loews by 2.3% during the first quarter. NewEdge Advisors LLC now owns 4,168 shares of the insurance provider's stock valued at $445,000 after purchasing an additional 95 shares during the period. Lido Advisors LLC raised its stake in shares of Loews by 3.9% in the first quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider's stock worth $277,000 after buying an additional 97 shares during the period. Hancock Whitney Corp raised its stake in shares of Loews by 3.9% in the third quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider's stock worth $263,000 after buying an additional 98 shares during the period. IFM Investors Pty Ltd lifted its position in shares of Loews by 0.3% during the 4th quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider's stock valued at $3,356,000 after buying an additional 100 shares in the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of Loews by 4.3% during the 4th quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider's stock valued at $274,000 after buying an additional 107 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Stock Down 0.8%

Shares of L stock opened at $109.85 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a one year low of $95.10 and a one year high of $121.01. The company's fifty day moving average price is $113.74 and its 200-day moving average price is $110.18. The company has a market capitalization of $22.46 billion, a price-to-earnings ratio of 13.46 and a beta of 0.52.

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

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews's payout ratio is presently 3.06%.

Insider Activity at Loews

In other Loews news, Director Dino Robusto acquired 5,000 shares of the company's stock in a transaction dated Friday, May 29th. The stock was purchased 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 directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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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