Turtle Creek Wealth Advisors LLC Makes New Investment in Loews Corporation $L

Key Points

• Turtle Creek Wealth Advisors LLC acquired 3,762 shares of Loews Corporation, worth approximately $345,000, indicating increased institutional interest in the insurance provider.
• Loews Corporation reported earnings of $1.87 per share and revenue of $4.56 billion for the last quarter, with a net margin of 7.47% and a return on equity of 7.43%.
• The company recently announced a quarterly dividend of $0.0625, resulting in an annualized dividend yield of 0.3% and a payout ratio of 3.97%.

Turtle Creek Wealth Advisors LLC acquired a new position in shares of Loews Corporation (NYSE:L - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,762 shares of the insurance provider's stock, valued at approximately $345,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC lifted its position in Loews by 3.9% during the second quarter. Aaron Wealth Advisors LLC now owns 3,754 shares of the insurance provider's stock worth $344,000 after purchasing an additional 142 shares during the period. BSW Wealth Partners lifted its position in Loews by 5.4% during the second quarter. BSW Wealth Partners now owns 2,812 shares of the insurance provider's stock worth $258,000 after purchasing an additional 143 shares during the period. Signaturefd LLC lifted its position in Loews by 4.0% during the first quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock worth $362,000 after purchasing an additional 152 shares during the period. Flynn Zito Capital Management LLC lifted its position in Loews by 5.9% during the first quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider's stock worth $304,000 after purchasing an additional 183 shares during the period. Finally, Contravisory Investment Management Inc. lifted its position in Loews by 2.3% during the second quarter. Contravisory Investment Management Inc. now owns 9,577 shares of the insurance provider's stock worth $878,000 after purchasing an additional 213 shares during the period. 58.33% of the stock is owned by institutional investors.

Loews Price Performance

L stock opened at $98.21 on Friday. The company has a 50 day simple moving average of $97.83 and a 200 day simple moving average of $91.90. The stock has a market cap of $20.37 billion, a price-to-earnings ratio of 15.61 and a beta of 0.73. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $103.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. The business 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 paid a $0.0625 dividend. 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 is currently 3.97%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Loews in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy".

About Loews

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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