BTG Pactual Asset Management US LLC Makes New Investment in Loews Corporation $L

BTG Pactual Asset Management US LLC bought a new stake in Loews Corporation (NYSE:L) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,050 shares of the insurance provider’s stock, valued at approximately $572,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DV Equities LLC acquired a new stake in shares of Loews in the 4th quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Loews during the second quarter worth $26,000. Fiduciary Financial Advisors acquired a new position in Loews during the second quarter worth $26,000. Keating Financial Advisory Services Inc. acquired a new position in Loews during the second quarter worth $28,000. Finally, Paladin Partners LLC purchased a new stake in Loews during the second quarter worth $30,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

Shares of L opened at $108.44 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The stock has a market cap of $22.17 billion, a P/E ratio of 13.29 and a beta of 0.52. The company has a 50-day moving average of $114.01 and a two-hundred day moving average of $110.22. Loews Corporation has a 12-month low of $95.10 and a 12-month high of $121.01.

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

Loews Dividend Announcement

The business 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 $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Loews’s payout ratio is 3.06%.

Analysts Set New Price Targets

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

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.