Jupiter Topco LLC Takes Position in Loews Corporation $L

Jupiter Topco LLC acquired a new position in Loews Corporation (NYSE:L) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 32,066 shares of the insurance provider’s stock, valued at approximately $3,631,000.

A number of other hedge funds have also bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its stake 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 purchasing an additional 2,057 shares during the last quarter. Empowered Funds LLC lifted its position in Loews by 12.2% during the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock valued at $350,000 after purchasing an additional 414 shares during the period. Woodline Partners LP boosted 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 worth $1,372,000 after purchasing an additional 4,071 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in Loews by 53.5% in the 2nd 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 period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Price Performance

Shares of NYSE:L opened at $108.59 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $22.20 billion, a PE ratio of 13.31 and a beta of 0.51. The firm’s 50 day moving average price is $113.97 and its 200-day moving average price is $110.21. Loews Corporation has a twelve month low of $95.10 and a twelve month high of $121.01.

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

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s payout ratio is presently 3.06%.

Wall Street Analyst Weigh In

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

Loews Company 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.