Loews Corporation $L Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Loews Corporation by 4.6% during the first quarter, selling 7,700 shares and owning 161,200 shares valued at approximately $14.8 million.
• Other institutional investors such as Jane Street Group LLC and SG Americas Securities LLC significantly increased their holdings in Loews, with the latter growing its stake by 589.9%.
• Loews Corporation reported a quarterly EPS of $1.87, with a revenue of $4.56 billion and announced a quarterly dividend of $0.0625 per share, reflecting a dividend yield of 0.3%.

Adage Capital Partners GP L.L.C. lessened its holdings in Loews Corporation (NYSE:L - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 161,200 shares of the insurance provider's stock after selling 7,700 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.08% of Loews worth $14,816,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Northern Trust Corp lifted its stake in Loews by 7.2% during the 1st quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock valued at $206,709,000 after acquiring an additional 151,428 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 worth $120,549,000 after purchasing an additional 207,568 shares during the last quarter. California State Teachers Retirement System lifted its position in Loews by 7.2% during the fourth quarter. California State Teachers Retirement System now owns 758,592 shares of the insurance provider's stock valued at $64,245,000 after purchasing an additional 51,028 shares during the period. Hsbc Holdings PLC boosted its holdings in Loews by 1.3% in the first quarter. Hsbc Holdings PLC now owns 724,190 shares of the insurance provider's stock valued at $66,463,000 after purchasing an additional 9,357 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Loews by 10,114.9% during the 1st quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock worth $61,776,000 after purchasing an additional 665,558 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Performance

Shares of NYSE L traded down $0.09 during trading on Tuesday, reaching $95.93. 564,604 shares of the company traded hands, compared to its average volume of 778,284. The stock has a market cap of $19.90 billion, a P/E ratio of 15.25 and a beta of 0.73. The firm's fifty day simple moving average is $93.55 and its 200 day simple moving average is $89.57. 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 12-month low of $75.16 and a 12-month high of $97.77.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. The firm 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. Loews's dividend payout ratio (DPR) is presently 3.97%.

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.