Caisse DE Depot ET Placement DU Quebec Lowers Stock Holdings in Loews Corporation $L

Key Points

• Caisse DE Depot ET Placement DU Quebec sold 170,629 shares of Loews Corporation, reducing its stake by 78.7% to a total of 46,161 shares, valued at approximately $4.24 million.
• GAMMA Investing LLC dramatically increased its position in Loews by 10,114.9%, while other institutional investors also adjusted their holdings, leading to institutional ownership now at 58.33% of the company's stock.
• Loews announced a quarterly dividend of $0.0625 per share, yielding 0.3%, set to be paid on September 2nd, with an ex-dividend date of August 20th.

Caisse DE Depot ET Placement DU Quebec lessened its holdings in Loews Corporation (NYSE:L - Free Report) by 78.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,161 shares of the insurance provider's stock after selling 170,629 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Loews were worth $4,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Wayfinding Financial LLC purchased a new position in shares of Loews in the 1st quarter worth about $25,000. Minot DeBlois Advisors LLC bought a new stake in Loews in the fourth quarter worth about $27,000. Sierra Ocean LLC boosted its stake 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 last quarter. Elequin Capital LP purchased a new position in Loews in the first quarter valued at about $30,000. Finally, Zions Bancorporation National Association UT purchased a new position in Loews in the first quarter valued at about $33,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Loews Stock Performance

NYSE L traded down $1.06 during trading on Tuesday, hitting $95.74. 312,959 shares of the company's stock traded hands, compared to its average volume of 778,358. The stock has a market capitalization of $19.86 billion, a price-to-earnings ratio of 15.22 and a beta of 0.73. Loews Corporation has a 12-month low of $75.16 and a 12-month high of $97.41. 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 business has a 50 day moving average of $92.84 and a 200-day moving average of $89.05.

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 business had revenue of $4.56 billion for the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is 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.