Fifth Third Bancorp Has $3.39 Million Position in Loews Corporation $L

Key Points

• Fifth Third Bancorp increased its stake in Loews Corporation by 264.9% in the first quarter, ending with 31,743 shares valued at about $3.39 million.
• Loews reported Q1 earnings of $1.63 per share on revenue of $4.55 billion, with a net margin of 8.83% and return on equity of 8.51%.
• The company also announced a quarterly dividend of $0.0625 per share, while insider activity included Director Dino Robusto buying 5,000 shares, and the stock recently traded near $114.47.

Fifth Third Bancorp raised its stake in shares of Loews Corporation (NYSE:L - Free Report) by 264.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,743 shares of the insurance provider's stock after acquiring an additional 23,044 shares during the quarter. Fifth Third Bancorp's holdings in Loews were worth $3,388,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in L. Candriam S.C.A. increased its position in shares of Loews by 2.2% during the 1st quarter. Candriam S.C.A. now owns 22,301 shares of the insurance provider's stock worth $2,380,000 after purchasing an additional 474 shares in the last quarter. Quantum Portfolio Management LLC bought a new stake in Loews during the first quarter worth about $919,000. Clare Market Investments LLC bought a new stake in Loews during the first quarter worth about $1,600,000. DGS Capital Management LLC acquired a new stake in shares of Loews during the first quarter worth approximately $224,000. Finally, Lee Danner & Bass Inc. increased its holdings in shares of Loews by 22.1% during the first quarter. Lee Danner & Bass Inc. now owns 173,958 shares of the insurance provider's stock worth $18,568,000 after buying an additional 31,500 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Stock Up 0.0%

Shares of NYSE:L opened at $114.47 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The firm has a market cap of $23.55 billion, a P/E ratio of 14.55 and a beta of 0.52. Loews Corporation has a 12 month low of $89.32 and a 12 month high of $119.10. The company's 50-day moving average price is $109.60 and its two-hundred day moving average price is $108.31.

Loews (NYSE:L - Get Free Report) last announced its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The company had revenue of $4.55 billion during the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews's payout ratio is 3.18%.

Insider Transactions at Loews

In other news, Director Dino Robusto acquired 5,000 shares of the firm's stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the transaction, the director owned 10,235 shares of the company's stock, valued at approximately $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.00% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Loews from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Loews currently has an average rating of "Buy".

About Loews

Loews Corporation NYSE: L is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews' principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.

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