Equitable Holdings Inc. Takes Position in Loews Corporation $L

Equitable Holdings Inc. purchased a new position in shares of Loews Corporation (NYSE:L) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,955 shares of the insurance provider’s stock, valued at approximately $787,000.

Several other hedge funds have also recently modified their holdings of the stock. Paladin Partners LLC purchased a new position in Loews in the 2nd quarter valued at $30,000. Edmond DE Rothschild Holding S.A. acquired a new position in Loews in the 2nd quarter valued at $26,000. Fiduciary Financial Advisors purchased a new position in Loews during the 2nd quarter worth $26,000. DV Equities LLC purchased a new position in Loews during the 4th quarter worth $25,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of Loews in the 2nd quarter worth $28,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Loews Stock Performance

NYSE:L opened at $109.71 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $22.43 billion, a P/E ratio of 13.44 and a beta of 0.52. The firm has a 50-day moving average price of $114.01 and a two-hundred day moving average price of $110.24. Loews Corporation has a twelve month low of $95.10 and a twelve month high of $121.01.

Loews (NYSE:L) last released its quarterly earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.The company 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.