Boston Partners Sells 5,843 Shares of Loews Corporation $L

Key Points

• Boston Partners has reduced its stake in Loews Corporation by 0.4%, now owning approximately 1,493,574 shares valued at $137.2 million.
• Loews Corporation recently reported earnings of $1.87 per share, with revenues of $4.56 billion for the quarter, alongside a new quarterly dividend announcement of $0.0625 per share.
• The stock has shown an upward trend, recently trading up by 1.1%, and has a market cap of $19.79 billion with a price-to-earnings ratio of 15.17.

Boston Partners cut its position in shares of Loews Corporation (NYSE:L - Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,493,574 shares of the insurance provider's stock after selling 5,843 shares during the quarter. Boston Partners owned 0.71% of Loews worth $137,213,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in L. OneDigital Investment Advisors LLC acquired a new position in shares of Loews during the first quarter valued at $224,000. Novem Group acquired a new position in Loews during the 4th quarter valued at about $678,000. SG Americas Securities LLC grew its position in Loews by 589.9% in the 1st quarter. SG Americas Securities LLC now owns 10,162 shares of the insurance provider's stock worth $934,000 after purchasing an additional 8,689 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new position in Loews in the 1st quarter worth approximately $329,000. Finally, Penserra Capital Management LLC grew its stake in shares of Loews by 2,074.6% in the first quarter. Penserra Capital Management LLC now owns 10,351 shares of the insurance provider's stock worth $950,000 after purchasing an additional 9,875 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Analyst Ratings Changes

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

Loews Stock Down 0.4%

L stock traded down $0.34 during midday trading on Monday, reaching $94.66. The company had a trading volume of 853,199 shares, compared to its average volume of 779,763. The company has a 50 day moving average of $91.20 and a two-hundred day moving average of $88.20. The company has a market capitalization of $19.63 billion, a P/E ratio of 15.05 and a beta of 0.69. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $96.10. 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 posted its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share 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 Announces Dividend

The business 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 $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. Loews's payout ratio is currently 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.