Elevation Point Wealth Partners LLC Makes New $2.14 Million Investment in Loews Corporation $L

Elevation Point Wealth Partners LLC acquired a new stake in shares of Loews Corporation (NYSE:L) in the second quarter, Holdings Channel reports. The fund acquired 18,885 shares of the insurance provider’s stock, valued at approximately $2,138,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. DV Equities LLC purchased a new position in shares of Loews in the fourth quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Loews in the 2nd quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. acquired a new position in Loews in the 2nd quarter worth approximately $28,000. Paladin Partners LLC acquired a new position in Loews in the 2nd quarter worth approximately $30,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Loews during the 3rd quarter worth approximately $30,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Dino Robusto bought 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was bought at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the transaction, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 19.00% of the company’s stock.

Loews Trading Up 0.0%

Shares of NYSE L opened at $109.85 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews Corporation has a one year low of $95.10 and a one year high of $121.01. The business has a 50-day moving average price of $113.74 and a two-hundred day moving average price of $110.21. The firm has a market capitalization of $22.46 billion, a PE ratio of 13.46 and a beta of 0.52.

Loews (NYSE:L) last issued its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. The company 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews’s dividend payout ratio is currently 3.06%.

Analysts Set New Price Targets

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

Loews Company 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.