HighTower Advisors LLC Acquires 8,477 Shares of Loews Corporation (L)

HighTower Advisors LLC boosted its holdings in shares of Loews Corporation (NYSE:L) by 39.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,228 shares of the insurance provider’s stock after buying an additional 8,477 shares during the quarter. HighTower Advisors LLC’s holdings in Loews Corporation were worth $1,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Loews Corporation by 6.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 140 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Loews Corporation by 285.2% during the 1st quarter. Parallel Advisors LLC now owns 2,681 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 1,985 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Loews Corporation during the 2nd quarter valued at approximately $131,000. D.A. Davidson & CO. increased its holdings in shares of Loews Corporation by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 27 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Loews Corporation during the 1st quarter valued at approximately $175,000. 58.59% of the stock is owned by institutional investors.

Loews Corporation (L) opened at 48.95 on Wednesday. Loews Corporation has a 12-month low of $40.73 and a 12-month high of $49.58. The stock’s 50 day moving average is $47.43 and its 200 day moving average is $47.26. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of 14.47 and a beta of 0.71.

Loews Corporation (NYSE:L) last issued its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. The firm had revenue of $3.36 billion during the quarter. During the same period in the prior year, the business earned $0.59 earnings per share. Equities research analysts forecast that Loews Corporation will post $3.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Wednesday, August 30th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, August 28th. Loews Corporation’s dividend payout ratio is presently 7.53%.

COPYRIGHT VIOLATION WARNING: This story was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/11/hightower-advisors-llc-acquires-8477-shares-of-loews-corporation-l.html.

Several equities analysts have recently weighed in on L shares. Zacks Investment Research lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. BidaskClub lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $39.00.

Loews Corporation Company Profile

Loews Corporation

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Loews Corporation by 6.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 140 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Loews Corporation by 285.2% during the 1st quarter. Parallel Advisors LLC now owns 2,681 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 1,985 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Loews Corporation during the 2nd quarter valued at approximately $131,000. D.A. Davidson & CO. increased its holdings in shares of Loews Corporation by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 27 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Loews Corporation during the 1st quarter valued at approximately $175,000. 58.59% of the stock is owned by institutional investors.

Loews Corporation (L) opened at 48.95 on Wednesday. Loews Corporation has a 12-month low of $40.73 and a 12-month high of $49.58. The stock’s 50 day moving average is $47.43 and its 200 day moving average is $47.26. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of 14.47 and a beta of 0.71.

Loews Corporation (NYSE:L) last issued its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. The firm had revenue of $3.36 billion during the quarter. During the same period in the prior year, the business earned $0.59 earnings per share. Equities research analysts forecast that Loews Corporation will post $3.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Wednesday, August 30th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, August 28th. Loews Corporation’s dividend payout ratio is presently 7.53%.

COPYRIGHT VIOLATION WARNING: This story was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/11/hightower-advisors-llc-acquires-8477-shares-of-loews-corporation-l.html.

Several equities analysts have recently weighed in on L shares. Zacks Investment Research lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. BidaskClub lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $39.00.

Loews Corporation Company Profile

Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.

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Institutional Ownership by Quarter for Loews Corporation (NYSE:L)

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