AQR Capital Management LLC Has $42.51 Million Position in Loews Corporation $L

Key Points

• AQR Capital Management LLC has reduced its holdings in Loews Corporation by 22.9%, selling 138,224 shares and now owning 465,141 shares valued at approximately $42.5 million.
• Other institutional investors have increased their stakes, with Jane Street Group LLC showing a remarkable growth of 218.1% to own 142,050 shares valued at over $13 million.
• Loews Corporation reported a quarterly earnings of $1.87 EPS with a revenue of $4.56 billion, and announced a quarterly dividend of $0.0625.

AQR Capital Management LLC reduced its holdings in Loews Corporation (NYSE:L - Free Report) by 22.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 465,141 shares of the insurance provider's stock after selling 138,224 shares during the quarter. AQR Capital Management LLC owned 0.22% of Loews worth $42,505,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Northern Trust Corp increased 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 worth $206,709,000 after purchasing an additional 151,428 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Loews by 17.1% in 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 buying an additional 207,568 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Loews by 7.2% in 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 buying an additional 51,028 shares during the period. Hsbc Holdings PLC increased its position in shares of Loews by 1.3% during the first quarter. Hsbc Holdings PLC now owns 724,190 shares of the insurance provider's stock worth $66,463,000 after acquiring an additional 9,357 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Loews by 10,114.9% during the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock worth $61,776,000 after acquiring an additional 665,558 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Stock Down 0.3%

L traded down $0.33 during trading on Friday, hitting $97.72. The company had a trading volume of 770,613 shares, compared to its average volume of 728,083. The company has a market capitalization of $20.27 billion, a PE ratio of 15.54 and a beta of 0.73. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. Loews Corporation has a one year low of $75.16 and a one year high of $98.33. The firm's 50-day moving average price is $93.87 and its 200 day moving average price is $89.79.

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 (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 announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.3%. Loews's payout ratio is presently 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.