Loews Corporation $L Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its stake in Loews Corporation (NYSE:L) by 5.8% in the second quarter, HoldingsChannel.com reports. The fund owned 32,760 shares of the insurance provider’s stock after buying an additional 1,800 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Loews were worth $3,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Northern Trust Corp boosted its stake in Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider’s stock valued at $206,709,000 after acquiring an additional 151,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Loews by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,496,606 shares of the insurance provider’s stock valued at $137,553,000 after acquiring an additional 73,197 shares during the period. Hsbc Holdings PLC boosted its stake in Loews by 1.3% in the first quarter. Hsbc Holdings PLC now owns 724,190 shares of the insurance provider’s stock valued at $66,463,000 after acquiring an additional 9,357 shares during the period. Swedbank AB boosted its stake in Loews by 44.8% in the first quarter. Swedbank AB now owns 556,350 shares of the insurance provider’s stock valued at $51,134,000 after acquiring an additional 172,004 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Loews by 1.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 494,732 shares of the insurance provider’s stock valued at $45,471,000 after acquiring an additional 5,114 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b+)” rating on shares of Loews in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Loews has an average rating of “Buy”.

Loews Stock Performance

Shares of NYSE L opened at $100.27 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $97.73 and a 200-day simple moving average of $91.86. The company has a market cap of $20.80 billion, a PE ratio of 15.94 and a beta of 0.73. Loews Corporation has a 12-month low of $75.16 and a 12-month high of $103.52.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. The business had revenue of $4.56 billion during the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, August 20th. Loews’s dividend payout ratio is 3.97%.

About Loews

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.