Turtle Creek Wealth Advisors LLC Takes Position in Loews Corporation $L

Turtle Creek Wealth Advisors LLC acquired a new stake in Loews Corporation (NYSE:L) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,762 shares of the insurance provider’s stock, valued at approximately $345,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aaron Wealth Advisors LLC increased its position in Loews by 3.9% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,754 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 142 shares during the period. BSW Wealth Partners increased its position in Loews by 5.4% during the 2nd quarter. BSW Wealth Partners now owns 2,812 shares of the insurance provider’s stock valued at $258,000 after purchasing an additional 143 shares during the period. Signaturefd LLC increased its position in Loews by 4.0% during the 1st quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider’s stock valued at $362,000 after purchasing an additional 152 shares during the period. Flynn Zito Capital Management LLC grew its position in shares of Loews by 5.9% during the 1st quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider’s stock worth $304,000 after buying an additional 183 shares during the period. Finally, Contravisory Investment Management Inc. grew its position in shares of Loews by 2.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 9,577 shares of the insurance provider’s stock worth $878,000 after buying an additional 213 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Performance

Shares of L stock opened at $98.21 on Friday. The company has a market cap of $20.37 billion, a price-to-earnings ratio of 15.61 and a beta of 0.73. Loews Corporation has a 52 week low of $75.16 and a 52 week high of $103.52. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $97.83 and a 200-day moving average of $91.90.

Loews (NYSE:L) last issued its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The company had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, August 20th. Loews’s dividend payout ratio (DPR) is currently 3.97%.

Analyst Ratings Changes

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

Loews 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.