Sanctuary Advisors LLC Makes New Investment in Loews Corporation $L

Sanctuary Advisors LLC bought a new position in Loews Corporation (NYSE:L) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 12,682 shares of the insurance provider’s stock, valued at approximately $1,436,000.

Other large investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC boosted its position in Loews by 22.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock valued at $329,000 after acquiring an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Loews by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after acquiring an additional 2,057 shares in the last quarter. Empowered Funds LLC raised its position in shares of Loews by 12.2% in the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after acquiring an additional 414 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Loews by 37.5% in the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after purchasing an additional 4,071 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Loews by 53.5% in the 2nd quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock valued at $656,000 after purchasing an additional 2,493 shares during the period. Institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

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

Loews Stock Performance

Shares of L opened at $111.06 on Thursday. The business’s fifty day simple moving average is $113.92 and its two-hundred day simple moving average is $110.25. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews Corporation has a 12 month low of $95.10 and a 12 month high of $121.01. The company has a market cap of $22.70 billion, a price-to-earnings ratio of 13.61 and a beta of 0.52.

Loews (NYSE:L) last released its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%. The firm had revenue of $4.73 billion during the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th 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 of this dividend is Wednesday, August 19th. Loews’s dividend payout ratio is presently 3.06%.

Insider Activity

In other news, Director Dino Robusto acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.00% of the stock is currently owned by company insiders.

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.