Hennessy Advisors Inc. purchased a new stake in Loews Corporation (NYSE:L - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 98,000 shares of the insurance provider's stock, valued at approximately $8,983,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in Loews in the first quarter valued at $25,000. Sierra Ocean LLC grew 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 worth $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 worth about $30,000. Zions Bancorporation National Association UT purchased a new position in shares of Loews during the first quarter worth about $33,000. Finally, NBC Securities Inc. purchased a new position in shares of Loews during the first quarter worth about $40,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Loews in a report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Loews presently has an average rating of "Buy".
Check Out Our Latest Research Report on L
Loews Stock Performance
NYSE L opened at $101.68 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $102.41. The business's 50-day moving average price is $96.08 and its 200 day moving average price is $91.16. The firm has a market cap of $21.09 billion, a P/E ratio of 16.17 and a beta of 0.73.
Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The firm had revenue of $4.56 billion for the quarter.
Loews Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews's payout ratio is currently 3.97%.
About Loews
(
Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding L? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loews Corporation (NYSE:L - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Loews, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Loews wasn't on the list.
While Loews currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
