Vise Technologies Inc. Makes New $1.11 Million Investment in Loews Corporation $L

Key Points

• Vise Technologies acquired 9,790 Loews shares during the second quarter, valued at approximately $1.11 million. Institutional investors collectively own 58.33% of Loews stock.
• Loews reported quarterly EPS of $2.16 on $4.73 billion in revenue, with a 9.02% net margin and 8.60% return on equity.
• The company declared a quarterly dividend of $0.0625, equivalent to $0.25 annually and a 0.2% yield. Loews shares opened at $109.85, down 0.8%, while Weiss Ratings upgraded the stock to “buy (a-).”

Vise Technologies Inc. bought a new stake in Loews Corporation (NYSE:L - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 9,790 shares of the insurance provider's stock, valued at approximately $1,108,000.

Several other hedge funds and other institutional investors also recently modified their holdings of L. Integrated Wealth Concepts LLC boosted its stake in Loews by 22.6% in the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider's stock valued at $329,000 after buying an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Loews by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider's stock worth $2,108,000 after acquiring an additional 2,057 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider's stock worth $350,000 after acquiring an additional 414 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Loews by 37.5% in the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider's stock worth $1,372,000 after acquiring an additional 4,071 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Loews by 53.5% in the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider's stock worth $656,000 after acquiring an additional 2,493 shares during the last quarter. Institutional investors own 58.33% of the company's stock.

Loews Stock Down 0.8%

NYSE:L opened at $109.85 on Friday. Loews Corporation has a one year low of $95.10 and a one year high of $121.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $22.46 billion, a PE ratio of 13.46 and a beta of 0.52. The firm's 50 day simple moving average is $113.74 and its 200 day simple moving average is $110.18.

Loews (NYSE:L - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The insurance provider reported $2.16 EPS 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 Announces Dividend

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

Insider Activity at Loews

In related news, Director Dino Robusto bought 5,000 shares of Loews stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares of the company's stock, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 19.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Loews from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews presently has an average rating of "Strong Buy".

Loews Company Profile

Loews Corporation NYSE: L is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews' principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source