Loews Corporation $L Shares Bought by Park Place Capital Corp

Key Points

• Park Place Capital Corp significantly increased its stake in Loews Corporation by 28,859.4% in Q2, now holding 9,267 shares valued at approximately $856,000.
• Loews reported quarterly earnings of $1.87 per share with revenue of $4.56 billion, and declared a dividend of $0.0625 per share.
• Loews shares decreased by 0.6%, trading at $99.66, with a twelve-month high of $100.57.

Park Place Capital Corp raised its position in Loews Corporation (NYSE:L - Free Report) by 28,859.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,267 shares of the insurance provider's stock after acquiring an additional 9,235 shares during the quarter. Park Place Capital Corp's holdings in Loews were worth $856,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of L. Wealth Enhancement Advisory Services LLC grew its position in Loews by 27.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,486 shares of the insurance provider's stock valued at $1,227,000 after acquiring an additional 3,140 shares in the last quarter. Versant Capital Management Inc grew its position in Loews by 207.4% in the first quarter. Versant Capital Management Inc now owns 1,125 shares of the insurance provider's stock valued at $103,000 after acquiring an additional 759 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Loews by 10,114.9% during the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock worth $61,776,000 after buying an additional 665,558 shares in the last quarter. Advisory Alpha LLC acquired a new stake in shares of Loews during the first quarter worth approximately $221,000. Finally, Rhumbline Advisers grew its position in shares of Loews by 9.5% during the first quarter. Rhumbline Advisers now owns 367,536 shares of the insurance provider's stock worth $33,780,000 after buying an additional 31,781 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Stock Down 0.6%

L stock opened at $99.66 on Tuesday. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $100.57. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $20.67 billion, a P/E ratio of 15.84 and a beta of 0.73. The firm has a 50 day simple moving average of $95.34 and a 200-day simple moving average of $90.82.

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 for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The business had revenue of $4.56 billion during the quarter.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. Loews's dividend payout ratio (DPR) is presently 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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