Sanctuary Advisors LLC Acquires New Position in Loews Corporation $L

Sanctuary Advisors LLC bought a new position in Loews Corporation (NYSE:LFree Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,682 shares of the insurance provider’s stock, valued at approximately $1,436,000.

A number of other institutional investors and hedge funds have also bought and sold shares of L. Capital Square LLC purchased a new position in shares of Loews during the second quarter worth approximately $1,097,000. LM Advisors LLC purchased a new stake in shares of Loews in the 2nd quarter valued at $615,000. First Nebraska Trust Co bought a new position in shares of Loews during the 2nd quarter valued at $270,000. Bank of Nova Scotia bought a new position in shares of Loews during the 2nd quarter valued at $2,412,000. Finally, Compass Financial Management LLC purchased a new position in Loews in the 2nd quarter worth $1,654,000. 58.33% of the stock is currently owned by institutional investors.

Loews Price Performance

Shares of Loews stock opened at $111.06 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The business’s 50 day simple moving average is $113.92 and its two-hundred day simple moving average is $110.25. The stock has a market capitalization of $22.70 billion, a P/E ratio of 13.61 and a beta of 0.52. Loews Corporation has a one year low of $95.10 and a one year high of $121.01.

Loews (NYSE:LGet Free Report) last released its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.The firm had revenue of $4.73 billion during the quarter.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors 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 yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews’s dividend payout ratio is currently 3.06%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Loews has a consensus rating of “Strong Buy”.

Check Out Our Latest Analysis on Loews

Insiders Place Their Bets

In other news, Director Dino Robusto purchased 5,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director directly owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.00% of the stock is owned by insiders.

About Loews

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Loews (NYSE:L)

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