60,804 Shares in Loews Corporation $L Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new stake in shares of Loews Corporation (NYSE:L) in the second quarter, HoldingsChannel reports. The fund acquired 60,804 shares of the insurance provider’s stock, valued at approximately $6,884,000.

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

Insider Activity

In related news, Director Dino Robusto acquired 5,000 shares of the stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the acquisition, the director owned 10,235 shares in the company, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 19.00% of the company’s stock.

Loews Stock Down 1.0%

L stock opened at $111.29 on Thursday. 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 Corporation has a 1 year low of $95.10 and a 1 year high of $121.01. The company has a fifty day simple moving average of $113.64 and a 200 day simple moving average of $110.15. The firm has a market cap of $22.75 billion, a PE ratio of 13.64 and a beta of 0.52.

Loews (NYSE:L) last posted 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 for the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews’s dividend payout ratio is 3.06%.

Wall Street Analyst Weigh In

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 MarketBeat, the stock currently has an average rating of “Strong Buy”.

Loews Profile

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.