Great Lakes Advisors LLC Buys New Stake in Loews Corporation $L

Great Lakes Advisors LLC purchased a new position in Loews Corporation (NYSE:L) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 75,559 shares of the insurance provider’s stock, valued at approximately $771,000.

Several other large investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its holdings in Loews by 22.6% during the 1st 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 holdings in shares of Loews by 9.9% during the 1st 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 raised its holdings in shares of Loews by 12.2% during the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after acquiring an additional 414 shares in the last quarter. Woodline Partners LP boosted its position in shares of Loews by 37.5% during the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after acquiring an additional 4,071 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Loews by 53.5% during the 2nd quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock valued at $656,000 after acquiring an additional 2,493 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Loews Price Performance

Shares of L stock opened at $109.85 on Friday. The stock has a 50 day moving average price of $113.74 and a 200 day moving average price of $110.18. 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 has a market capitalization of $22.46 billion, a P/E ratio of 13.46 and a beta of 0.52.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 EPS 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Activity at Loews

In related news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the purchase, the director directly owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 19.00% of the company’s stock.

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.