Loews Corporation $L Shares Acquired by HighTower Advisors LLC

Key Points

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HighTower Advisors LLC increased its position in Loews Corporation (NYSE:L - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,538 shares of the insurance provider's stock after purchasing an additional 4,115 shares during the period. HighTower Advisors LLC's holdings in Loews were worth $7,310,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board lifted its holdings in shares of Loews by 0.6% in the 1st quarter. Public Sector Pension Investment Board now owns 47,200 shares of the insurance provider's stock worth $4,338,000 after purchasing an additional 298 shares during the last quarter. Independent Advisor Alliance bought a new stake in shares of Loews in the 1st quarter worth approximately $216,000. Nuveen LLC bought a new stake in shares of Loews in the 1st quarter worth approximately $34,166,000. Berger Financial Group Inc lifted its holdings in shares of Loews by 1.6% in the 1st quarter. Berger Financial Group Inc now owns 67,353 shares of the insurance provider's stock worth $6,190,000 after purchasing an additional 1,032 shares during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in shares of Loews by 32.7% in the 1st quarter. Townsquare Capital LLC now owns 10,520 shares of the insurance provider's stock worth $967,000 after purchasing an additional 2,591 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Loews from a "hold" rating to a "buy" rating in a report on Tuesday, May 6th.

Loews Stock Performance

Shares of NYSE L opened at $94.66 on Tuesday. Loews Corporation has a 12-month low of $75.16 and a 12-month high of $96.10. The company has a market cap of $19.63 billion, a PE ratio of 15.05 and a beta of 0.69. The stock has a 50 day simple moving average of $91.32 and a 200-day simple moving average of $88.27. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43.

Loews (NYSE:L - Get Free Report) last announced its earnings results on Monday, August 4th. The insurance provider reported $1.87 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. Loews's dividend payout ratio is currently 3.97%.

Loews Profile

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.

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