Hedges Asset Management LLC Sells 5,200 Shares of Loews Corporation $L

Key Points

• Hedges Asset Management LLC reduced its holdings in Loews Corporation by 29.1% in Q2, owning 12,700 shares after selling 5,200 shares, with a valuation of approximately $1.16 million.
• Several institutional investors, including Miracle Mile Advisors LLC and UMB Bank n.a., have increased their stakes in Loews, contributing to hedge funds owning 58.33% of the company's stock.
• Loews announced a quarterly dividend of $0.0625 per share, representing an annualized yield of 0.3%, and reported a revenue of $4.56 billion for the recent quarter.

Hedges Asset Management LLC lessened its position in Loews Corporation (NYSE:L - Free Report) by 29.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,700 shares of the insurance provider's stock after selling 5,200 shares during the quarter. Hedges Asset Management LLC's holdings in Loews were worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Loews in the 1st quarter valued at approximately $25,000. Sierra Ocean LLC increased its position in Loews by 805.9% during the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after buying an additional 274 shares in the last quarter. Elequin Capital LP bought a new position in Loews during the 1st quarter valued at approximately $30,000. Zions Bancorporation National Association UT bought a new position in Loews during the 1st quarter valued at approximately $33,000. Finally, NBC Securities Inc. bought a new position in Loews during the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Down 0.1%

L stock traded down $0.08 on Friday, reaching $96.97. 293,083 shares of the company traded hands, compared to its average volume of 774,644. Loews Corporation has a one year low of $75.16 and a one year high of $98.33. 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 $20.11 billion, a P/E ratio of 15.42 and a beta of 0.73. The firm has a fifty day simple moving average of $94.31 and a 200-day simple moving average of $90.09.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. The business 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. Loews's dividend payout ratio (DPR) is presently 3.97%.

Loews Company 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.