IFP Advisors Inc Raises Holdings in Loews Corporation $L

IFP Advisors Inc boosted its holdings in shares of Loews Corporation (NYSE:L) by 379.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,069 shares of the insurance provider’s stock after buying an additional 846 shares during the quarter. IFP Advisors Inc’s holdings in Loews were worth $98,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. GAMMA Investing LLC increased its position in shares of Loews by 11.1% during the 1st quarter. GAMMA Investing LLC now owns 7,313 shares of the insurance provider’s stock worth $672,000 after purchasing an additional 733 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Loews by 6.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,424 shares of the insurance provider’s stock worth $1,418,000 after buying an additional 938 shares during the period. Sowell Financial Services LLC purchased a new position in Loews during the first quarter worth about $216,000. Asset Management One Co. Ltd. increased its position in shares of Loews by 3.2% during the first quarter. Asset Management One Co. Ltd. now owns 77,207 shares of the insurance provider’s stock valued at $7,096,000 after acquiring an additional 2,416 shares during the last quarter. Finally, Hi Line Capital Management LLC increased its position in shares of Loews by 2.1% during the first quarter. Hi Line Capital Management LLC now owns 29,498 shares of the insurance provider’s stock valued at $2,711,000 after acquiring an additional 620 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b+)” rating on shares of Loews in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Loews has an average rating of “Buy”.

Loews Stock Up 0.6%

Shares of NYSE:L opened at $98.79 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market capitalization of $20.49 billion, a PE ratio of 15.71 and a beta of 0.73. The firm’s 50-day moving average is $97.93 and its two-hundred day moving average is $91.95. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $103.52.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The business had revenue of $4.56 billion during the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. Loews’s dividend payout ratio is currently 3.97%.

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.