SG Americas Securities LLC Acquires 23,344 Shares of Loews Corporation $L

SG Americas Securities LLC lifted its holdings in shares of Loews Corporation (NYSE:L) by 229.7% during the 2nd quarter, Holdings Channel reports. The firm owned 33,506 shares of the insurance provider’s stock after purchasing an additional 23,344 shares during the quarter. SG Americas Securities LLC’s holdings in Loews were worth $3,071,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in L. Kestra Private Wealth Services LLC increased its holdings in Loews by 12.3% in the first quarter. Kestra Private Wealth Services LLC now owns 9,111 shares of the insurance provider’s stock worth $837,000 after purchasing an additional 1,000 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Loews by 3.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 13,951 shares of the insurance provider’s stock worth $1,282,000 after buying an additional 464 shares during the period. Flynn Zito Capital Management LLC grew its position in shares of Loews by 5.9% during the 1st quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider’s stock worth $304,000 after buying an additional 183 shares during the period. Guidance Capital Inc. increased its stake in shares of Loews by 14.6% in the 1st quarter. Guidance Capital Inc. now owns 12,022 shares of the insurance provider’s stock valued at $1,059,000 after acquiring an additional 1,529 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Loews by 406.0% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 25,390 shares of the insurance provider’s stock valued at $2,334,000 after acquiring an additional 20,372 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has an average rating of “Strong Buy”.

Loews Price Performance

Shares of NYSE:L opened at $105.16 on Wednesday. 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 twelve month low of $78.98 and a twelve month high of $105.40. The stock’s 50 day moving average is $100.27 and its 200-day moving average is $94.51. The firm has a market capitalization of $21.73 billion, a price-to-earnings ratio of 16.72 and a beta of 0.73.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The business had revenue of $3.94 billion during the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s payout ratio is presently 3.62%.

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.