BTG Pactual Asset Management US LLC Makes New $572,000 Investment in Loews Corporation $L

BTG Pactual Asset Management US LLC purchased a new position in shares of Loews Corporation (NYSE:L) in the second quarter, HoldingsChannel reports. The fund purchased 5,050 shares of the insurance provider’s stock, valued at approximately $572,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Loews during the second quarter worth approximately $1,621,369,000. Norges Bank acquired a new position in Loews in the 4th quarter valued at $577,279,000. Ancora Advisors LLC acquired a new position in Loews in the 2nd quarter valued at $30,398,000. Legal & General Group Plc purchased a new position in shares of Loews during the 2nd quarter worth $140,248,000. Finally, Great Lakes Advisors LLC purchased a new position in shares of Loews during the 2nd quarter worth $184,377,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Ratings Changes

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

Loews Price Performance

L opened at $108.44 on Tuesday. The company’s 50 day simple moving average is $114.01 and its 200 day simple moving average is $110.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a 1 year low of $95.10 and a 1 year high of $121.01. The stock has a market capitalization of $22.17 billion, a PE ratio of 13.29 and a beta of 0.52.

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

Loews Dividend Announcement

The business 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 $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews’s dividend payout ratio (DPR) 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.