Glenview Trust Co Purchases Shares of 6,804 Loews Corporation $L

Glenview Trust Co purchased a new position in shares of Loews Corporation (NYSE:L) in the second quarter, HoldingsChannel.com reports. The firm purchased 6,804 shares of the insurance provider’s stock, valued at approximately $770,000.

Several other hedge funds have also recently made changes to their positions in L. DV Equities LLC acquired a new position in shares of Loews in the 4th quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Loews during the second quarter worth approximately $26,000. Fiduciary Financial Advisors acquired a new stake in Loews during the second quarter worth approximately $26,000. Keating Financial Advisory Services Inc. bought a new stake in Loews in the second quarter worth approximately $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Loews in the third quarter worth approximately $30,000. 58.33% of the stock is owned by institutional investors.

Loews Price Performance

Shares of NYSE:L opened at $109.71 on Friday. The company has a quick ratio of 0.36, a current 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 stock’s 50 day moving average is $114.01 and its 200-day moving average is $110.24. The firm has a market capitalization of $22.43 billion, a price-to-earnings ratio of 13.44 and a beta of 0.52.

Loews (NYSE:L) last posted its quarterly 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 issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews’s dividend payout ratio (DPR) is currently 3.06%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded 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 MarketBeat.com, the company has an average rating of “Strong Buy”.

Loews 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.