Squarepoint Ops LLC Boosts Stake in Loews Corporation $L

Key Points

• Squarepoint Ops LLC increased its Loews stake by 739.2% in the second quarter, acquiring 33,199 additional shares for a total holding of 37,690 shares valued at approximately $4.27 million.
• Institutional investors and hedge funds own 58.33% of Loews, while Weiss Ratings downgraded the stock from “buy (a-)” to “buy (b+).” MarketBeat data still shows an overall “Buy” rating.
• Loews reported quarterly earnings of $2.16 per share on $4.73 billion in revenue and maintains a quarterly dividend of $0.0625 per share, equivalent to a 0.2% yield.

Squarepoint Ops LLC increased its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 739.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,690 shares of the insurance provider's stock after acquiring an additional 33,199 shares during the quarter. Squarepoint Ops LLC's holdings in Loews were worth $4,267,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. purchased a new position in Loews in the 2nd quarter worth approximately $26,000. Fiduciary Financial Advisors purchased a new stake in shares of Loews in the second quarter valued at approximately $26,000. DV Equities LLC acquired a new stake in shares of Loews in the fourth quarter valued at approximately $25,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Loews in the second quarter valued at approximately $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Loews during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 58.33% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy".

Loews Price Performance

Loews stock opened at $108.66 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $113.21 and a 200 day moving average price of $110.19. Loews Corporation has a 12-month low of $95.71 and a 12-month high of $121.01. The stock has a market cap of $22.21 billion, a P/E ratio of 13.32 and a beta of 0.51.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%. The company had revenue of $4.73 billion for the quarter.

Loews Dividend Announcement

The firm also recently disclosed 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. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Loews's dividend payout ratio (DPR) is presently 3.06%.

Loews Company Profile

Loews Corporation NYSE: L is a diversified holding company whose businesses operate primarily in the insurance, energy infrastructure, hospitality and packaging sectors. Rather than operating as a single-industry company, Loews manages a portfolio of independently run subsidiaries and focuses on long-term ownership, financial strength and disciplined capital allocation.

Its principal businesses include CNA Financial Corporation, a commercial property and casualty insurance provider; Boardwalk Pipelines, which owns and operates natural gas pipeline and storage assets; Loews Hotels & Co, which manages luxury and upper-upscale hotels and resorts; and Altium Packaging, a manufacturer of rigid plastic containers and packaging solutions.

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