Blueshift Asset Management LLC bought a new position in Loews Corporation (NYSE:L - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,121 shares of the insurance provider's stock, valued at approximately $471,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of L. American Century Companies Inc. lifted its holdings in Loews by 6.9% in the fourth quarter. American Century Companies Inc. now owns 89,589 shares of the insurance provider's stock worth $7,587,000 after acquiring an additional 5,750 shares during the last quarter. Blair William & Co. IL boosted its position in Loews by 8.4% during the 4th quarter. Blair William & Co. IL now owns 8,187 shares of the insurance provider's stock worth $693,000 after acquiring an additional 634 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Loews by 0.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 87,032 shares of the insurance provider's stock worth $7,371,000 after acquiring an additional 712 shares during the period. Geode Capital Management LLC lifted its position in Loews by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock worth $378,087,000 after purchasing an additional 210,594 shares during the period. Finally, Meeder Advisory Services Inc. raised its stake in shares of Loews by 39.9% in the 4th quarter. Meeder Advisory Services Inc. now owns 6,501 shares of the insurance provider's stock worth $551,000 after buying an additional 1,853 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.
Analyst Ratings Changes
Separately, Wall Street Zen raised Loews from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.
Read Our Latest Stock Report on L
Loews Stock Performance
Shares of NYSE:L traded up $2.58 during trading on Monday, hitting $92.87. 823,505 shares of the stock were exchanged, compared to its average volume of 809,945. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $93.23. The company's fifty day simple moving average is $90.13 and its 200-day simple moving average is $87.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $19.47 billion, a price-to-earnings ratio of 15.25 and a beta of 0.69.
Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.
Loews Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. Loews's payout ratio is currently 4.11%.
Insider Buying and Selling at Loews
In other news, SVP Richard Waldo Scott sold 9,019 shares of Loews stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president directly owned 33,901 shares in the company, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 18.70% of the stock is owned by corporate insiders.
About Loews
(
Free Report)
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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