Federation des caisses Desjardins du Quebec Decreases Stock Position in Loews Corporation $L

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in Loews Corporation by 11.3%, holding 36,700 shares valued at approximately $3.37 million after selling 4,691 shares in the first quarter.
• Institutional investors collectively own 58.33% of Loews' stock, with GAMMA Investing LLC increasing its stake by a significant 10,114.9% during the same period.
• Loews Corporation recently reported quarterly earnings of $1.87 per share, along with a revenue of $4.56 billion for the quarter ended August 4th.

Federation des caisses Desjardins du Quebec lessened its holdings in Loews Corporation (NYSE:L - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,700 shares of the insurance provider's stock after selling 4,691 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Loews were worth $3,373,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Loews by 10,114.9% in the 1st quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock worth $61,776,000 after purchasing an additional 665,558 shares in the last quarter. Nuveen LLC purchased a new position in shares of Loews in the first quarter worth $34,166,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Loews by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider's stock worth $120,549,000 after buying an additional 207,568 shares during the period. Northern Trust Corp lifted its stake in shares of Loews by 7.2% during the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock worth $206,709,000 after buying an additional 151,428 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Loews by 63.2% during the fourth quarter. BNP Paribas Financial Markets now owns 384,459 shares of the insurance provider's stock valued at $32,560,000 after buying an additional 148,890 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Price Performance

NYSE L opened at $96.56 on Friday. The stock's fifty day moving average price is $93.39 and its 200 day moving average price is $89.34. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $97.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market cap of $20.03 billion, a price-to-earnings ratio of 15.35 and a beta of 0.73.

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. Loews had a return on equity of 7.43% and a net margin of 7.47%.The business had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.3%. Loews's dividend payout ratio (DPR) 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.

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