6,804 Shares in Loews Corporation $L Acquired by Glenview Trust Co

Glenview Trust Co acquired a new position in shares of Loews Corporation (NYSE:L) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,804 shares of the insurance provider’s stock, valued at approximately $770,000.

Other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew 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 purchasing an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Loews by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock valued at $2,108,000 after purchasing an additional 2,057 shares during the period. Empowered Funds LLC raised its holdings in Loews by 12.2% in the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock valued at $350,000 after acquiring an additional 414 shares during the period. Woodline Partners LP increased its stake in shares of Loews by 37.5% during the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock worth $1,372,000 after purchasing an additional 4,071 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of Loews by 53.5% during the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock worth $656,000 after buying an additional 2,493 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

NYSE:L opened at $109.71 on Friday. The stock has a market cap of $22.43 billion, a P/E ratio of 13.44 and a beta of 0.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average is $114.01 and its 200-day moving average is $110.24. Loews Corporation has a 1-year low of $95.10 and a 1-year high of $121.01.

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

Loews Announces Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s payout ratio is currently 3.06%.

Analyst Ratings Changes

Separately, Weiss Ratings raised 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, Based on data from MarketBeat, the company 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.