Sanders Morris Harris LLC Makes New $522,000 Investment in Loews Corporation $L

Sanders Morris Harris LLC purchased a new stake in shares of Loews Corporation (NYSE:L) during the 3rd quarter, HoldingsChannel reports. The firm purchased 5,000 shares of the insurance provider’s stock, valued at approximately $522,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE purchased a new stake in shares of Loews in the 2nd quarter valued at $79,560,000. Amundi increased its stake in shares of Loews by 12.6% in the second quarter. Amundi now owns 752,222 shares of the insurance provider’s stock worth $85,159,000 after acquiring an additional 84,243 shares during the period. Squarepoint Ops LLC increased its stake in shares of Loews by 739.2% in the second quarter. Squarepoint Ops LLC now owns 37,690 shares of the insurance provider’s stock worth $4,267,000 after acquiring an additional 33,199 shares during the period. Deutsche Bank AG acquired a new stake in shares of Loews in the second quarter worth $69,529,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Loews during the second quarter worth $28,758,000. Institutional investors and hedge funds 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 report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Loews Stock Performance

Shares of L stock opened at $109.08 on Thursday. Loews Corporation has a 52-week low of $97.38 and a 52-week high of $121.01. 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 cap of $22.30 billion, a PE ratio of 13.29 and a beta of 0.50. The business has a 50-day simple moving average of $109.00 and a 200-day simple moving average of $109.90.

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

Loews Announces Dividend

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

Loews Company Profile

Loews Corporation (NYSE:L) is a diversified holding company headquartered in New York City. Its principal businesses operate in insurance, energy infrastructure, hospitality and packaging, giving the company exposure to several industries rather than relying on a single operating segment.

Loews owns a controlling interest in CNA Financial, a commercial property and casualty insurance company that provides insurance products and services to businesses and organizations. It also owns Boardwalk Pipelines, which operates interstate natural gas transmission and storage systems, and Loews Hotels & Co, a hospitality company that manages and develops hotels and resorts in the United States and Canada.