SG Americas Securities LLC Buys 23,344 Shares of Loews Corporation $L

SG Americas Securities LLC lifted its stake in shares of Loews Corporation (NYSE:L) by 229.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,506 shares of the insurance provider’s stock after buying an additional 23,344 shares during the period. SG Americas Securities LLC’s holdings in Loews were worth $3,071,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Loews by 5.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,686 shares of the insurance provider’s stock worth $3,913,000 after acquiring an additional 2,283 shares during the last quarter. ABN Amro Investment Solutions acquired a new stake in shares of Loews during the second quarter valued at about $2,147,000. Renasant Bank acquired a new stake in shares of Loews during the second quarter valued at about $773,000. Geode Capital Management LLC grew its holdings in shares of Loews by 0.6% during the second quarter. Geode Capital Management LLC now owns 4,609,107 shares of the insurance provider’s stock worth $420,722,000 after purchasing an additional 28,552 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Loews by 7.1% in the second quarter. PNC Financial Services Group Inc. now owns 43,631 shares of the insurance provider’s stock valued at $3,999,000 after buying an additional 2,895 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Trading Up 0.9%

Shares of L stock opened at $105.16 on Wednesday. Loews Corporation has a 1-year low of $78.98 and a 1-year high of $105.40. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The stock has a market cap of $21.73 billion, a price-to-earnings ratio of 16.72 and a beta of 0.73. The stock has a 50-day moving average of $100.27 and a 200-day moving average of $94.51.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 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 $3.94 billion for the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th will be given a $0.0625 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s payout ratio is 3.62%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Loews has an average rating of “Strong 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.