Magnolia Capital Advisors LLC Makes New Investment in Loews Corporation $L

Magnolia Capital Advisors LLC bought a new position in shares of Loews Corporation (NYSE:L) during the second quarter, Holdings Channel.com reports. The firm bought 7,000 shares of the insurance provider’s stock, valued at approximately $792,000.

Other hedge funds have also modified their holdings of the company. DV Equities LLC bought a new position in Loews in the 4th quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Loews in the 2nd quarter valued at about $26,000. Fiduciary Financial Advisors acquired a new stake in shares of Loews during the 2nd quarter worth approximately $26,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Loews during the 2nd quarter worth approximately $28,000. Finally, Paladin Partners LLC bought a new stake in shares of Loews during the second quarter worth approximately $30,000. 58.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews presently has a consensus rating of “Strong Buy”.

Insiders Place Their Bets

In other news, Director Dino Robusto acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares in the company, valued at $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 19.00% of the stock is owned by insiders.

Loews Stock Up 0.2%

Shares of Loews stock opened at $111.06 on Thursday. The business has a fifty day simple moving average of $113.92 and a 200 day simple moving average of $110.25. The stock has a market cap of $22.70 billion, a PE ratio of 13.61 and a beta of 0.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews Corporation has a 12 month low of $95.10 and a 12 month high of $121.01.

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

Loews Announces Dividend

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 given 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 is Wednesday, August 19th. Loews’s dividend payout ratio (DPR) is currently 3.06%.

About Loews

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.