Banco Santander S.A. Invests $5.50 Million in Loews Corporation (NYSE:L)

Key Points

• Banco Santander S.A. acquired approximately $5.50 million worth of shares in Loews Corporation, totaling 59,867 shares.
• Several institutional investors significantly increased their holdings in Loews, with GAMMA Investing LLC raising its ownership by over 10,000%.
• Loews Corporation declared a quarterly dividend of $0.0625 per share, resulting in an annualized yield of 0.3%.

Banco Santander S.A. purchased a new position in Loews Corporation (NYSE:L - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 59,867 shares of the insurance provider's stock, valued at approximately $5,502,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of Loews by 3.2% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock valued at $329,000 after buying an additional 122 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Loews by 3.5% during the first quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock valued at $354,000 after purchasing an additional 130 shares during the period. Signaturefd LLC increased its holdings in shares of Loews by 4.0% during the first quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock valued at $362,000 after acquiring an additional 152 shares in the last quarter. Salvus Wealth Management LLC grew its position in Loews by 1.4% in the 1st quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock valued at $1,089,000 after purchasing an additional 165 shares during the period. Finally, Flynn Zito Capital Management LLC increased its stake in Loews by 5.9% during the 1st quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider's stock valued at $304,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Analyst Upgrades and Downgrades

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

Loews Stock Performance

NYSE:L traded down $0.82 during trading on Thursday, reaching $93.26. The company's stock had a trading volume of 78,353 shares, compared to its average volume of 780,683. The firm has a market cap of $19.34 billion, a price-to-earnings ratio of 14.84 and a beta of 0.69. Loews Corporation has a 12 month low of $75.16 and a 12 month high of $94.62. 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 50 day moving average of $90.31 and a 200-day moving average of $87.69.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 earnings per share (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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Wednesday, August 20th. Loews's dividend payout ratio (DPR) is presently 4.11%.

About Loews

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.