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

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Miracle Mile Advisors LLC increased its stake in Loews by 3.5% in the first quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock worth $354,000 after purchasing an additional 130 shares during the period. Signaturefd LLC increased its stake in Loews by 4.0% in the first quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock worth $362,000 after purchasing an additional 152 shares during the period. Salvus Wealth Management LLC increased its stake in Loews by 1.4% in the first quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock worth $1,089,000 after purchasing an additional 165 shares during the period. Flynn Zito Capital Management LLC increased its stake 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 worth $304,000 after purchasing an additional 183 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Loews by 80.1% during the first quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock valued at $43,000 after buying an additional 209 shares during the period. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Performance

Shares of Loews stock opened at $97.72 on Friday. The firm has a market cap of $20.27 billion, a P/E ratio of 15.54 and a beta of 0.73. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. Loews Corporation has a 12 month low of $75.16 and a 12 month high of $98.33. The stock's fifty day moving average price is $93.87 and its 200-day moving average price is $89.83.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The firm had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 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.

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