APG Asset Management N.V. Reduces Stock Holdings in Loews Corporation $L

Key Points

• APG Asset Management N.V. decreased its stake in Loews Corporation by 6.7%, owning 203,500 shares worth approximately $17.32 million after selling 14,600 shares in the first quarter.
• Loews reported a quarterly revenue of $4.56 billion and an earnings per share of $1.87, with a net margin of 7.47%.
• Loews has declared a quarterly dividend of $0.0625 per share, representing an annualized dividend yield of 0.3% and a payout ratio of 3.97%.

APG Asset Management N.V. lowered its position in Loews Corporation (NYSE:L - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 203,500 shares of the insurance provider's stock after selling 14,600 shares during the quarter. APG Asset Management N.V. owned 0.10% of Loews worth $17,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of L. Wayfinding Financial LLC acquired a new stake in Loews during the 1st quarter worth about $25,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Loews during the 4th quarter worth approximately $27,000. Sierra Ocean LLC raised its holdings in Loews by 805.9% during the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 274 shares during the period. Elequin Capital LP purchased a new position in Loews during the 1st quarter valued at about $30,000. Finally, Zions Bancorporation National Association UT bought a new position in Loews in the 1st quarter valued at $33,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

L stock traded up $0.08 during trading on Friday, reaching $96.60. 254,721 shares of the stock were exchanged, compared to its average volume of 779,430. The stock has a 50 day simple moving average of $92.56 and a 200-day simple moving average of $88.79. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $97.41. The company has a market capitalization of $20.04 billion, a P/E ratio of 15.35 and a beta of 0.69. 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 (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The business had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

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

Wall Street Analyst Weigh In

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

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.