Loews Corporation $L Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its position in Loews Corporation (NYSE:L) by 0.6% during the second quarter, HoldingsChannel.com reports. The fund owned 369,791 shares of the insurance provider’s stock after acquiring an additional 2,255 shares during the quarter. Rhumbline Advisers’ holdings in Loews were worth $33,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC boosted its position in shares of Loews by 218.1% in the 1st quarter. Jane Street Group LLC now owns 142,050 shares of the insurance provider’s stock worth $13,056,000 after buying an additional 97,391 shares in the last quarter. Assetmark Inc. raised its position in Loews by 182.2% during the second quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock worth $180,000 after acquiring an additional 1,270 shares during the last quarter. Advisory Alpha LLC purchased a new stake in shares of Loews in the first quarter valued at about $284,000. American Century Companies Inc. grew its position in shares of Loews by 7.4% in the first quarter. American Century Companies Inc. now owns 96,249 shares of the insurance provider’s stock valued at $8,846,000 after purchasing an additional 6,660 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Loews by 1.3% during the 1st quarter. Hsbc Holdings PLC now owns 724,190 shares of the insurance provider’s stock worth $66,463,000 after purchasing an additional 9,357 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Up 0.7%

L stock opened at $107.94 on Wednesday. The company has a 50 day moving average price of $101.21 and a two-hundred day moving average price of $95.17. 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 has a market capitalization of $22.31 billion, a P/E ratio of 17.16 and a beta of 0.73. Loews Corporation has a one year low of $78.98 and a one year high of $108.39.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. The business had revenue of $3.94 billion for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, November 26th. Loews’s dividend payout ratio is presently 3.62%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Wednesday, November 19th. One investment 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 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.