Loews Corporation $L Stock: Hosking Partners LLP Decreases Holdings

Hosking Partners LLP reduced its position in shares of Loews Corporation (NYSE:L) by 6.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 86,039 shares of the insurance provider’s stock after selling 6,393 shares during the period. Hosking Partners LLP’s holdings in Loews were worth $8,985,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Loews during the 2nd quarter valued at about $26,000. Fiduciary Financial Advisors purchased a new position in shares of Loews in the 2nd quarter valued at about $26,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Loews in the 2nd quarter valued at about $28,000. SHP Wealth Management acquired a new position in Loews in the 4th quarter worth about $35,000. Finally, Elevation Wealth Partners LLC raised its holdings in Loews by 245.9% in the 3rd quarter. Elevation Wealth Partners LLC now owns 422 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 300 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Loews Stock Up 0.3%

Shares of L opened at $111.65 on Thursday. The stock has a 50 day moving average price of $108.63 and a 200 day moving average price of $110.05. Loews Corporation has a one year low of $97.38 and a one year 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 stock has a market capitalization of $22.82 billion, a price-to-earnings ratio of 13.68 and a beta of 0.50.

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

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th were 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 was Wednesday, August 19th. Loews’s dividend payout ratio is 3.06%.

Loews Profile

Loews Corporation (NYSE:L) is a diversified holding company with operating businesses in insurance, energy infrastructure, hospitality and packaging. The company manages its portfolio through a combination of wholly owned subsidiaries and a significant ownership interest in CNA Financial Corporation, a commercial property and casualty insurance provider.

Loews’ wholly owned businesses include Boardwalk Pipelines, which owns and operates natural gas and natural gas liquids pipeline and storage assets; Loews Hotels & Co, which operates upscale hotels and resorts under brands including Loews Hotels and Universal’s hotels; and Altium Packaging, a manufacturer of rigid plastic containers and packaging products.