AlphaCore Capital LLC Grows Stake in Loews Corporation $L

AlphaCore Capital LLC grew its stake in Loews Corporation (NYSE:L) by 956.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,025 shares of the insurance provider’s stock after purchasing an additional 928 shares during the quarter. AlphaCore Capital LLC’s holdings in Loews were worth $94,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aaron Wealth Advisors LLC grew its holdings in Loews by 3.9% in the second quarter. Aaron Wealth Advisors LLC now owns 3,754 shares of the insurance provider’s stock worth $344,000 after purchasing an additional 142 shares during the period. BSW Wealth Partners boosted its position in Loews by 5.4% in the second quarter. BSW Wealth Partners now owns 2,812 shares of the insurance provider’s stock worth $258,000 after purchasing an additional 143 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of Loews by 5.3% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,856 shares of the insurance provider’s stock worth $262,000 after acquiring an additional 143 shares during the last quarter. Fielder Capital Group LLC raised its stake in shares of Loews by 1.1% in the second quarter. Fielder Capital Group LLC now owns 13,775 shares of the insurance provider’s stock worth $1,263,000 after buying an additional 150 shares during the period. Finally, Lafayette Investments Inc. lifted its position in shares of Loews by 0.3% during the 2nd quarter. Lafayette Investments Inc. now owns 73,393 shares of the insurance provider’s stock valued at $6,727,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Trading Up 0.4%

Shares of Loews stock opened at $108.34 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. Loews Corporation has a twelve month low of $78.98 and a twelve month high of $109.06. The firm has a market capitalization of $22.39 billion, a PE ratio of 17.22 and a beta of 0.73. The firm’s 50-day moving average price is $101.44 and its 200 day moving average price is $95.27.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. The company had revenue of $3.94 billion for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Wednesday, November 26th will be given a $0.0625 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s payout ratio is currently 3.62%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews presently has a consensus rating of “Strong Buy”.

About Loews

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.