Loews Corporation $L Shares Sold by AQR Capital Management LLC

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 lowered its position in Loews Corporation (NYSE:L - Free Report) by 22.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 465,141 shares of the insurance provider's stock after selling 138,224 shares during the period. AQR Capital Management LLC owned approximately 0.22% of Loews worth $42,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of L. Wayfinding Financial LLC acquired a new position in Loews in the first quarter valued at approximately $25,000. Sierra Ocean LLC lifted its holdings in Loews by 805.9% in the first 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. Minot DeBlois Advisors LLC acquired a new position in Loews in the fourth quarter valued at approximately $27,000. Elequin Capital LP acquired a new position in Loews in the first quarter valued at approximately $30,000. Finally, Zions Bancorporation National Association UT acquired a new position in Loews in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Performance

NYSE:L traded down $0.09 during trading hours on Tuesday, reaching $95.93. The company had a trading volume of 564,604 shares, compared to its average volume of 725,150. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $97.77. The firm has a market cap of $19.90 billion, a PE ratio of 15.25 and a beta of 0.73. The business's 50 day moving average price is $93.55 and its 200-day moving average price is $89.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33.

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 (EPS) for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The company had revenue of $4.56 billion during the quarter.

Loews Announces Dividend

The firm also recently announced 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. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews's dividend 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.