Jupiter Topco LLC Takes $3.63 Million Position in Loews Corporation $L

Key Points

• Jupiter Topco LLC acquired 32,066 Loews shares during the second quarter, establishing a position worth approximately $3.63 million.
• Institutional investors own 58.33% of Loews, while Weiss Ratings upgraded the stock from “buy (b+)” to “buy (a-).” MarketBeat lists a consensus “Strong Buy” rating.
• Loews reported quarterly earnings of $2.16 per share on $4.73 billion in revenue and declared a quarterly dividend of $0.0625 per share, equivalent to a 0.2% annualized yield.

Jupiter Topco 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 institutional investor bought 32,066 shares of the insurance provider's stock, valued at approximately $3,631,000.

Other institutional investors also recently modified their holdings of the company. DV Equities LLC purchased a new stake in Loews in the fourth quarter worth about $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Loews during the second quarter valued at approximately $26,000. Fiduciary Financial Advisors purchased a new position in shares of Loews during the second quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Loews in the 2nd quarter worth approximately $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Loews in the 3rd quarter worth approximately $30,000. 58.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings raised Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Strong Buy".

Loews Stock Performance

Shares of Loews stock opened at $108.59 on Wednesday. Loews Corporation has a 1 year low of $95.10 and a 1 year high of $121.01. The firm's 50-day moving average is $113.97 and its 200 day moving average is $110.21. The stock has a market cap of $22.20 billion, a price-to-earnings ratio of 13.31 and a beta of 0.51. 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 (NYSE:L - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 earnings per share 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews's dividend payout ratio (DPR) is 3.06%.

About Loews

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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