Empowered Funds LLC Invests $1.97 Million in Loews Corporation $L

Empowered Funds LLC bought a new stake in Loews Corporation (NYSE:L) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 17,364 shares of the insurance provider’s stock, valued at approximately $1,966,000.

Other institutional investors also recently added to or reduced their stakes in the company. DV Equities LLC acquired a new position in Loews during the 4th quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Loews during the 2nd quarter worth $26,000. Fiduciary Financial Advisors acquired a new position in shares of Loews during the second quarter worth $26,000. Keating Financial Advisory Services Inc. purchased a new position in Loews in the second quarter valued at $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Loews in the third quarter valued at $30,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Up 1.0%

L stock opened at $110.04 on Friday. The stock has a market cap of $22.50 billion, a P/E ratio of 13.49 and a beta of 0.51. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews Corporation has a twelve month low of $95.10 and a twelve month high of $121.01. The company’s 50 day moving average is $113.89 and its two-hundred day moving average is $110.21.

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 business had revenue of $4.73 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, August 19th. Loews’s dividend payout ratio is currently 3.06%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised 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 data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

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.