Great Lakes Advisors LLC Takes Position in Loews Corporation $L

Great Lakes Advisors LLC bought a new stake in Loews Corporation (NYSE:L) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 971,787 shares of the insurance provider’s stock, valued at approximately $184,377,000. Loews comprises 1.4% of Great Lakes Advisors LLC’s portfolio, making the stock its 9th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Integrated Wealth Concepts LLC boosted its position in Loews by 22.6% during 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 purchasing an additional 2,057 shares during the last quarter. Empowered Funds LLC raised its stake 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 purchasing an additional 414 shares in the last quarter. Woodline Partners LP raised its stake 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 worth $1,372,000 after purchasing an additional 4,071 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Loews by 53.5% in the 2nd quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock valued at $656,000 after buying an additional 2,493 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Insider Activity

In other Loews news, Director Dino Robusto bought 5,000 shares of Loews stock in a transaction dated Friday, May 29th. The stock was bought at an average cost 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 $1,072,013.90. The trade was a 95.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has an average rating of “Strong Buy”.

Loews Stock Up 0.2%

Loews stock opened at $112.57 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The company’s 50-day moving average is $113.57 and its 200-day moving average is $110.10. The firm has a market capitalization of $23.01 billion, a PE ratio of 13.80 and a beta of 0.52. Loews Corporation has a fifty-two week low of $94.53 and a fifty-two week high of $121.01.

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

Loews Dividend Announcement

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

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.