Alliancebernstein L.P. Sells 25,793 Shares of Loews Corporation $L

Key Points

• Alliancebernstein L.P. reduced its stake in Loews Corporation by 11.5%, selling 25,793 shares to own 198,151 shares valued at approximately $18.2 million.
• GAMMA Investing LLC significantly increased its holdings in Loews by 10,114.9%, now owning 672,138 shares valued at $61.8 million.
• Loews Corporation reported a quarterly revenue of $4.56 billion and earnings per share of $1.87, also announcing a quarterly dividend of $0.0625 per share.

Alliancebernstein L.P. cut its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,151 shares of the insurance provider's stock after selling 25,793 shares during the period. Alliancebernstein L.P. owned 0.09% of Loews worth $18,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position 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 purchasing an additional 151,428 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Loews by 17.1% during the 4th 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 during the period. California State Teachers Retirement System lifted its position in Loews by 7.2% during the 4th 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 lifted its position in Loews by 1.3% during the 1st 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 period. Finally, GAMMA Investing LLC lifted 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 valued at $61,776,000 after purchasing an additional 665,558 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Trading Down 1.0%

Loews stock traded down $1.01 during trading hours on Tuesday, reaching $95.91. 829,421 shares of the company's stock traded hands, compared to its average volume of 708,362. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $19.89 billion, a price-to-earnings ratio of 15.25 and a beta of 0.73. The firm's 50 day moving average is $94.06 and its 200-day moving average is $89.98. Loews Corporation has a fifty-two week low of $75.16 and a fifty-two week high of $98.33.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. The company had revenue of $4.56 billion during 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 declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were paid a $0.0625 dividend. 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 is 3.97%.

Loews Company 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.