Mutual Advisors LLC Takes $342,000 Position in Loews Corporation $L

Key Points

• Mutual Advisors LLC has taken a new position in Loews Corporation, acquiring 3,730 shares valued at approximately $342,000 in the second quarter.
• Other hedge funds, such as NorthRock Partners LLC and Sequoia Financial Advisors LLC, have also increased their stakes in Loews, with NorthRock raising its position by 54.1%.
• Loews Corporation reported earnings of $1.87 EPS and revenue of $4.56 billion for the recent quarter, alongside a quarterly dividend of $0.0625 per share.

Mutual Advisors LLC purchased a new stake in Loews Corporation (NYSE:L - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,730 shares of the insurance provider's stock, valued at approximately $342,000.

A number of other hedge funds have also made changes to their positions in the company. NorthRock Partners LLC increased its position in shares of Loews by 54.1% in the second quarter. NorthRock Partners LLC now owns 3,522 shares of the insurance provider's stock valued at $323,000 after buying an additional 1,236 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in Loews by 6.2% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 32,227 shares of the insurance provider's stock worth $2,954,000 after purchasing an additional 1,887 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Loews by 5.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 32,760 shares of the insurance provider's stock worth $3,003,000 after purchasing an additional 1,800 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Loews by 156.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,077 shares of the insurance provider's stock worth $924,000 after purchasing an additional 6,146 shares in the last quarter. Finally, CWM LLC increased its position in Loews by 27.8% during the 2nd quarter. CWM LLC now owns 5,640 shares of the insurance provider's stock worth $517,000 after purchasing an additional 1,227 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Up 0.4%

L opened at $99.24 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 15.78 and a beta of 0.73. The business has a 50-day moving average of $98.04 and a two-hundred day moving average of $92.07. Loews Corporation has a 12 month low of $75.16 and a 12 month high of $103.52.

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

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.3%. Loews's payout ratio is 3.97%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "buy (b+)" rating on shares of Loews in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy".

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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