Magnolia Capital Advisors LLC Invests $792,000 in Loews Corporation $L

Magnolia Capital Advisors LLC acquired a new position in shares of Loews Corporation (NYSE:L) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,000 shares of the insurance provider’s stock, valued at approximately $792,000.

A number of other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Loews by 12.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock worth $38,724,000 after purchasing an additional 39,968 shares in the last quarter. UBS Group AG raised its holdings in Loews by 4.8% during the fourth quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock valued at $85,427,000 after buying an additional 37,327 shares in the last quarter. Swedbank AB lifted its position in shares of Loews by 4.8% in the fourth quarter. Swedbank AB now owns 464,458 shares of the insurance provider’s stock worth $48,912,000 after buying an additional 21,352 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Loews in the second quarter worth about $69,529,000. Finally, Walleye Capital LLC bought a new stake in shares of Loews during the 2nd quarter worth about $1,605,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Price Performance

NYSE L opened at $111.06 on Thursday. Loews Corporation has a 1 year low of $95.10 and a 1 year high of $121.01. The company has a fifty day simple moving average of $113.92 and a 200 day simple moving average of $110.25. 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 company has a market cap of $22.70 billion, a P/E ratio of 13.61 and a beta of 0.52.

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

Loews Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Loews from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 28th. One equities 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”.

Insider Buying and Selling

In other news, Director Dino Robusto bought 5,000 shares of Loews stock in a transaction dated Friday, May 29th. The shares were bought at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the purchase, the director owned 10,235 shares of the company’s stock, valued at approximately $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 available through this link. 19.00% of the stock is currently owned by corporate insiders.

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.