Loews Corporation $L Holdings Lifted by First Trust Advisors LP

First Trust Advisors LP lifted its holdings in Loews Corporation (NYSE:L) by 4.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 419,635 shares of the insurance provider’s stock after acquiring an additional 17,492 shares during the quarter. First Trust Advisors LP’s holdings in Loews were worth $44,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of L. DV Equities LLC purchased a new position in Loews in the 4th quarter worth about $25,000. Harbor Capital Advisors Inc. acquired a new position in Loews in the 4th quarter valued at approximately $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Loews during the third quarter worth $30,000. Private Trust Co. NA raised its stake in shares of Loews by 896.7% during the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 269 shares in the last quarter. Finally, SHP Wealth Management bought a new position in Loews during the fourth quarter valued at approximately $35,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Dino Robusto acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the purchase, the director directly owned 10,235 shares in the company, 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 at the SEC website. 19.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Loews Trading Down 0.0%

Shares of NYSE L opened at $117.88 on Monday. The company has a 50-day moving average of $110.69 and a two-hundred day moving average of $108.66. Loews Corporation has a 1-year low of $89.32 and a 1-year high of $119.10. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The company has a market cap of $24.26 billion, a PE ratio of 14.98 and a beta of 0.52.

Loews (NYSE:L) last released its earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. The company had revenue of $4.55 billion during the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.18%.

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.