Loews Corporation $L Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its stake in shares of Loews Corporation (NYSE:L) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,760 shares of the insurance provider’s stock after purchasing an additional 1,800 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Loews were worth $3,003,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wayfinding Financial LLC acquired a new position in shares of Loews during the first quarter worth about $25,000. Sierra Ocean LLC lifted its stake in shares of Loews by 805.9% during the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Loews during the first quarter worth about $30,000. Zions Bancorporation National Association UT acquired a new position in shares of Loews during the first quarter worth about $33,000. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Loews during the second quarter worth about $60,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Down 2.3%

Shares of NYSE L opened at $100.27 on Thursday. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $103.52. The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 15.94 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. The stock’s 50-day simple moving average is $97.73 and its 200-day simple moving average is $91.86.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The firm had revenue of $4.56 billion during 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 disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews’s payout ratio is currently 3.97%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b+)” rating on shares of Loews in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Loews has an average rating of “Buy”.

Loews Company Profile

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.