Mirador Capital Partners LP Purchases New Holdings in Loews Corporation $L

Key Points

• Mirador Capital Partners LP has acquired a new stake in Loews Corporation, buying 30,334 shares valued at approximately $2.78 million in the 2nd quarter, according to their recent SEC filing.
• Loews reports a Q2 earnings per share (EPS) of $1.87, with revenues reaching $4.56 billion and a return on equity of 7.43%.
• The company recently paid a quarterly dividend of $0.0625 per share, reflecting a 0.3% yield on an annualized basis.

Mirador Capital Partners LP purchased a new position in Loews Corporation (NYSE:L - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,334 shares of the insurance provider's stock, valued at approximately $2,780,000.

Several other hedge funds have also recently added to or reduced their stakes in L. GAMMA Investing LLC raised its position in Loews by 10,114.9% in the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock worth $61,776,000 after purchasing an additional 665,558 shares in the last quarter. Nuveen LLC acquired a new position in Loews in the first quarter worth about $34,166,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Loews by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider's stock worth $120,549,000 after purchasing an additional 207,568 shares in the last quarter. Swedbank AB raised its position in Loews by 44.8% in the first quarter. Swedbank AB now owns 556,350 shares of the insurance provider's stock worth $51,134,000 after purchasing an additional 172,004 shares in the last quarter. Finally, Northern Trust Corp raised its position in Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock worth $206,709,000 after purchasing an additional 151,428 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Price Performance

NYSE:L traded down $0.51 during mid-day trading on Friday, hitting $96.53. The company's stock had a trading volume of 2,314,098 shares, compared to its average volume of 715,779. Loews Corporation has a fifty-two week low of $75.16 and a fifty-two week high of $98.33. 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 $20.02 billion, a price-to-earnings ratio of 15.35 and a beta of 0.73. The stock has a fifty day moving average of $94.43 and a 200-day moving average of $90.20.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The company had revenue of $4.56 billion during the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 annualized dividend 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.