23,651 Shares in Loews Corporation $L Bought by Great Lakes Advisors LLC

Great Lakes Advisors LLC purchased a new position in Loews Corporation (NYSE:L) in the second quarter, Holdings Channel.com reports. The firm purchased 23,651 shares of the insurance provider’s stock, valued at approximately $2,678,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Paladin Partners LLC purchased a new position in shares of Loews in the second quarter valued at about $30,000. DV Equities LLC purchased a new stake in shares of Loews during the fourth quarter worth about $25,000. Private Trust Co. NA grew its position in shares of Loews by 896.7% during the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 269 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Loews during the 3rd quarter valued at approximately $30,000. Finally, SHP Wealth Management bought a new stake in Loews during the 4th quarter valued at approximately $35,000. 58.33% of the stock is owned by institutional investors.

Loews Stock Performance

Shares of NYSE L opened at $110.73 on Friday. The company has a market cap of $22.64 billion, a P/E ratio of 13.57 and a beta of 0.52. Loews Corporation has a 52-week low of $95.10 and a 52-week high of $121.01. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. The firm’s fifty day moving average is $113.70 and its two-hundred day moving average is $110.18.

Loews (NYSE:L) last released its quarterly earnings data 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 business had revenue of $4.73 billion during the quarter.

Loews Dividend Announcement

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Dino Robusto purchased 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director directly owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This represents a 95.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 19.00% of the stock is owned by corporate insiders.

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.