Ashton Thomas Private Wealth LLC Raises Stock Holdings in Loews Corporation $L

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Loews Corporation by 16.2%, owning 21,114 shares now valued at approximately $1.94 million.
• Several institutional investors, including Northern Trust Corp and UBS AM, have also raised their positions in Loews stock, reflecting growing confidence in the insurance provider.
• Loews Corporation announced a quarterly dividend of $0.0625 per share, translating to a 0.3% annual yield, indicating their commitment to returning value to shareholders.

Ashton Thomas Private Wealth LLC grew its stake in Loews Corporation (NYSE:L - Free Report) by 16.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,114 shares of the insurance provider's stock after acquiring an additional 2,936 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Loews were worth $1,941,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Northern Trust Corp lifted its position in shares of Loews by 7.2% in the first 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 acquiring an additional 207,568 shares in the last quarter. California State Teachers Retirement System lifted its position 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 acquiring an additional 51,028 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of 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 acquiring an additional 9,357 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Loews by 10,114.9% in the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock valued at $61,776,000 after acquiring an additional 665,558 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Stock Down 0.1%

Shares of NYSE:L opened at $95.93 on Wednesday. The company has a market capitalization of $19.90 billion, a P/E ratio of 15.25 and a beta of 0.73. The stock's fifty day simple moving average is $93.55 and its 200-day simple moving average is $89.57. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $97.77. 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 (NYSE:L - Get Free Report) last released 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 during the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.3%. The ex-dividend date 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.

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