371,733 Shares in Loews Corporation (NYSE:L) Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired 371,733 shares of Loews Corporation valued at approximately $34.17 million, representing a 0.18% ownership stake as of the latest SEC filing.
• Other institutional investors, including GAMMA Investing LLC and BNP Paribas Financial Markets, significantly increased their positions in Loews, reflecting growing institutional interest in the company.
• Loews has declared a quarterly dividend of $0.0625 per share, with the ex-dividend date set for August 20, 2023, indicating a modest annualized dividend yield of 0.3%.

Nuveen LLC acquired a new position in Loews Corporation (NYSE:L - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 371,733 shares of the insurance provider's stock, valued at approximately $34,166,000. Nuveen LLC owned approximately 0.18% of Loews as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Loews by 10,114.9% during the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock valued at $61,776,000 after purchasing an additional 665,558 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Loews by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider's stock valued at $120,549,000 after purchasing an additional 207,568 shares in the last quarter. First Trust Advisors LP raised its position in Loews by 51.2% during the fourth quarter. First Trust Advisors LP now owns 531,038 shares of the insurance provider's stock valued at $44,974,000 after purchasing an additional 179,772 shares in the last quarter. BNP Paribas Financial Markets raised its position in Loews by 63.2% during the fourth quarter. BNP Paribas Financial Markets now owns 384,459 shares of the insurance provider's stock valued at $32,560,000 after purchasing an additional 148,890 shares in the last quarter. Finally, AustralianSuper Pty Ltd purchased a new stake in Loews during the first quarter valued at about $11,633,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Loews from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

Loews Trading Down 0.6%

NYSE L opened at $95.04 on Friday. The stock's 50-day simple moving average is $91.20 and its two-hundred day simple moving average is $88.19. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $96.10. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $19.71 billion, a price-to-earnings ratio of 15.11 and a beta of 0.69.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The business had revenue of $4.56 billion for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. Loews's payout ratio is currently 3.97%.

Loews 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.

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