Great Lakes Advisors LLC Makes New Investment in Loews Corporation $L

Great Lakes Advisors LLC bought a new stake in shares of Loews Corporation (NYSE:L) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,651 shares of the insurance provider’s stock, valued at approximately $2,678,000.

A number of other institutional investors have also recently made changes to their positions in L. Paladin Partners LLC bought a new stake in shares of Loews in the second quarter worth approximately $30,000. DV Equities LLC bought a new position in Loews during the fourth quarter valued at approximately $25,000. Private Trust Co. NA boosted its holdings in Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 269 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Loews in the third quarter worth approximately $30,000. Finally, SHP Wealth Management bought a new stake in Loews in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of NYSE L opened at $110.73 on Friday. The firm has a 50 day moving average of $113.70 and a 200 day moving average of $110.18. 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 firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 13.57 and a beta of 0.52. Loews Corporation has a 12-month low of $95.10 and a 12-month high of $121.01.

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

Loews Dividend Announcement

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

Insider Buying and Selling

In related news, Director Dino Robusto bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $104.74 per share, with a total value of $523,700.00. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.00% of the company’s stock.

Wall Street Analyst Weigh In

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