United Capital Financial Advisors LLC Makes New Investment in Loews Corporation $L

United Capital Financial Advisors LLC purchased a new stake in Loews Corporation (NYSE:L) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,151 shares of the insurance provider’s stock, valued at approximately $810,000.

Several other institutional investors have also modified their holdings of the business. Integrated Wealth Concepts LLC raised its stake in shares of Loews by 22.6% in the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock valued at $329,000 after acquiring an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Loews by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after purchasing an additional 2,057 shares in the last quarter. Empowered Funds LLC grew its stake in Loews by 12.2% during the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after purchasing an additional 414 shares in the last quarter. Woodline Partners LP increased its holdings in Loews by 37.5% during the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock worth $1,372,000 after purchasing an additional 4,071 shares during the period. Finally, Cetera Investment Advisers increased its holdings in Loews by 53.5% during the 2nd quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock worth $656,000 after purchasing an additional 2,493 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Loews Trading Down 0.0%

Shares of NYSE:L opened at $109.71 on Monday. Loews Corporation has a 52 week low of $95.10 and a 52 week high of $121.01. The company’s 50 day moving average is $114.01 and its two-hundred day moving average is $110.23. The company has a market cap of $22.43 billion, a PE ratio of 13.44 and a beta of 0.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44.

Loews (NYSE:L) last issued its earnings results on Monday, August 3rd. The insurance provider reported $2.16 EPS for the quarter. The firm had revenue of $4.73 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders 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 of this dividend is Wednesday, August 19th. Loews’s payout ratio is 3.06%.

About Loews

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.