Lafayette Investments Inc. Raises Stock Position in Loews Corporation $L

Lafayette Investments Inc. increased its holdings in Loews Corporation (NYSE:L) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,393 shares of the insurance provider’s stock after purchasing an additional 201 shares during the period. Loews accounts for 1.4% of Lafayette Investments Inc.’s holdings, making the stock its 18th biggest holding. Lafayette Investments Inc.’s holdings in Loews were worth $6,727,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of Loews by 11.1% in the first quarter. GAMMA Investing LLC now owns 7,313 shares of the insurance provider’s stock worth $672,000 after purchasing an additional 733 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Loews by 6.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,424 shares of the insurance provider’s stock valued at $1,418,000 after purchasing an additional 938 shares during the period. Sowell Financial Services LLC bought a new position in shares of Loews in the 1st quarter worth $216,000. Asset Management One Co. Ltd. lifted its position in Loews by 3.2% during the first quarter. Asset Management One Co. Ltd. now owns 77,207 shares of the insurance provider’s stock valued at $7,096,000 after acquiring an additional 2,416 shares during the last quarter. Finally, Hi Line Capital Management LLC boosted its holdings in Loews by 2.1% in the first quarter. Hi Line Capital Management LLC now owns 29,498 shares of the insurance provider’s stock worth $2,711,000 after acquiring an additional 620 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Performance

NYSE:L opened at $99.24 on Tuesday. The company has a fifty day simple moving average of $98.04 and a two-hundred day simple moving average of $92.07. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. Loews Corporation has a 52 week low of $75.16 and a 52 week high of $103.52. The company has a market cap of $20.59 billion, a price-to-earnings ratio of 15.78 and a beta of 0.73.

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

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews’s payout ratio is 3.97%.

Analyst Ratings Changes

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

Loews Company Profile

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.