Loews Corporation $L Shares Sold by Tectonic Advisors LLC

Tectonic Advisors LLC reduced its stake in shares of Loews Corporation (NYSE:L) by 11.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,120 shares of the insurance provider’s stock after selling 2,198 shares during the period. Tectonic Advisors LLC’s holdings in Loews were worth $1,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in L. NBC Securities Inc. acquired a new position in shares of Loews during the 1st quarter worth approximately $40,000. UMB Bank n.a. lifted its holdings in Loews by 80.1% in the first quarter. UMB Bank n.a. now owns 470 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 209 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in Loews by 19.6% in the first quarter. Park Avenue Securities LLC now owns 6,770 shares of the insurance provider’s stock valued at $622,000 after acquiring an additional 1,111 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Loews by 65.5% in the first quarter. Farther Finance Advisors LLC now owns 4,254 shares of the insurance provider’s stock valued at $392,000 after acquiring an additional 1,683 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Loews by 11.1% in the first quarter. GAMMA Investing LLC now owns 7,313 shares of the insurance provider’s stock valued at $672,000 after acquiring an additional 733 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Loews Trading Down 0.8%

L opened at $102.26 on Friday. The stock has a market capitalization of $21.21 billion, a PE ratio of 16.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. Loews Corporation has a one year low of $75.16 and a one year high of $103.52. The business’s 50 day moving average price is $97.04 and its 200 day moving average price is $91.56.

Loews (NYSE:L) last announced its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. The company had revenue of $4.56 billion for 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. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s payout ratio is presently 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.