Charles Schwab Investment Management Inc. cut its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 1.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,599,219 shares of the insurance provider's stock after selling 24,072 shares during the period. Charles Schwab Investment Management Inc. owned 0.76% of Loews worth $146,984,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Loews by 3.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock worth $329,000 after purchasing an additional 122 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in Loews by 3.5% in the first quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock valued at $354,000 after buying an additional 130 shares in the last quarter. Signaturefd LLC increased its holdings in Loews by 4.0% in the first quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock valued at $362,000 after buying an additional 152 shares in the last quarter. Salvus Wealth Management LLC increased its holdings in Loews by 1.4% in the first quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock valued at $1,089,000 after buying an additional 165 shares in the last quarter. Finally, Flynn Zito Capital Management LLC increased its holdings in Loews by 5.9% in the first quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider's stock valued at $304,000 after buying an additional 183 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen raised shares of Loews from a "hold" rating to a "buy" rating in a report on Tuesday, May 6th.
Read Our Latest Stock Report on L
Loews Price Performance
Shares of NYSE L traded up $0.24 during trading on Thursday, hitting $95.65. The company had a trading volume of 486,396 shares, compared to its average volume of 776,772. The stock has a fifty day simple moving average of $90.94 and a two-hundred day simple moving average of $88.04. Loews Corporation has a fifty-two week low of $75.16 and a fifty-two week high of $95.79. The firm has a market capitalization of $19.84 billion, a price-to-earnings ratio of 15.21 and a beta of 0.69. 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 announced its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share (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 Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th will be given a $0.0625 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. Loews's dividend payout ratio (DPR) is 3.97%.
Loews Profile
(
Free Report)
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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