Tidal Investments LLC Trims Position in Loews Corporation $L

Key Points

• Tidal Investments cut its Loews position by 62.3% in the second quarter, selling 11,255 shares and retaining 6,825 shares worth approximately $773,000.
• Other institutional investors initiated positions in Loews, while institutional ownership stood at 58.33%. Weiss Ratings downgraded the stock but the broader analyst consensus remained “Buy.”
• Loews reported quarterly earnings of $2.16 per share on $4.73 billion in revenue and announced a $0.0625 quarterly dividend, equivalent to a 0.2% yield.

Tidal Investments LLC decreased its position in Loews Corporation (NYSE:L - Free Report) by 62.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,825 shares of the insurance provider's stock after selling 11,255 shares during the quarter. Tidal Investments LLC's holdings in Loews were worth $773,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Loews in the second quarter worth approximately $26,000. Fiduciary Financial Advisors purchased a new stake in Loews during the second quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. purchased a new stake in Loews during the second quarter valued at approximately $28,000. SHP Wealth Management bought a new position in Loews in the fourth quarter worth approximately $35,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in Loews in the first quarter worth approximately $52,000. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy".

Loews Price Performance

NYSE L opened at $107.69 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews Corporation has a 12 month low of $96.17 and a 12 month high of $121.01. The stock has a market cap of $22.02 billion, a price-to-earnings ratio of 13.20 and a beta of 0.51. The company's 50 day moving average is $112.50 and its two-hundred day moving average is $110.15.

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

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews's dividend payout ratio is currently 3.06%.

About Loews

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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