Bank of Nova Scotia Sells 31,842 Shares of Loews Corporation (NYSE:L)

Bank of Nova Scotia lessened its holdings in Loews Corporation (NYSE:L - Free Report) by 59.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,768 shares of the insurance provider's stock after selling 31,842 shares during the quarter. Bank of Nova Scotia's holdings in Loews were worth $2,001,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC acquired a new position in Loews during the first quarter worth $224,000. Novem Group acquired a new position in Loews during the fourth quarter worth $678,000. SG Americas Securities LLC increased its holdings in Loews by 589.9% during the first quarter. SG Americas Securities LLC now owns 10,162 shares of the insurance provider's stock worth $934,000 after buying an additional 8,689 shares during the last quarter. Moody Lynn & Lieberson LLC acquired a new position in Loews during the first quarter worth $329,000. Finally, Penserra Capital Management LLC increased its holdings in Loews by 2,074.6% during the first quarter. Penserra Capital Management LLC now owns 10,351 shares of the insurance provider's stock worth $950,000 after buying an additional 9,875 shares during the last quarter. Institutional investors own 58.33% of the company's stock.

Wall Street Analysts Forecast Growth

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

Loews Price Performance

Shares of L opened at $94.21 on Thursday. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $94.62. The company has a market cap of $19.54 billion, a price-to-earnings ratio of 14.98 and a beta of 0.69. The company's fifty day simple moving average is $90.31 and its 200 day simple moving average is $87.69. 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 released its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The firm 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. Shareholders of record on Wednesday, August 20th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, August 20th. Loews's payout ratio is currently 4.11%.

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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