Readystate Asset Management LP Makes New Investment in Loews Corporation $L

Readystate Asset Management LP bought a new position in Loews Corporation (NYSE:L) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,324 shares of the insurance provider’s stock, valued at approximately $942,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC boosted its stake in shares of 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 buying an additional 658 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Loews by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock valued at $2,108,000 after acquiring an additional 2,057 shares during the last quarter. Empowered Funds LLC lifted its holdings in Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock valued at $350,000 after acquiring an additional 414 shares during the period. Woodline Partners LP lifted its holdings in Loews by 37.5% in the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after acquiring an additional 4,071 shares during the period. Finally, Cetera Investment Advisers boosted its position in Loews by 53.5% in the second 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 last quarter. 58.33% of the stock is owned by institutional investors.

Loews Trading Down 0.1%

Shares of Loews stock opened at $109.22 on Tuesday. The company’s fifty day simple moving average is $113.72 and its 200-day simple moving average is $110.21. The stock has a market capitalization of $22.33 billion, a PE ratio of 13.38 and a beta of 0.51. Loews Corporation has a 1-year low of $95.10 and a 1-year high of $121.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (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 business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s payout ratio is 3.06%.

Analyst Upgrades and Downgrades

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