KLCM Advisors Inc. Acquires Shares of 4,170 Loews Corporation (NYSE:L)

Key Points

• KLCM Advisors Inc. has acquired a new stake in Loews Corporation, purchasing 4,170 shares valued at approximately $383,000 in the first quarter.
• Loews Corporation recently announced a quarterly dividend of $0.0625 per share, representing an annualized dividend yield of 0.3%.
• Wall Street Zen upgraded Loews from a "hold" to a "buy" rating, indicating a positive outlook on the company's performance.

KLCM Advisors Inc. bought a new stake in Loews Corporation (NYSE:L - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,170 shares of the insurance provider's stock, valued at approximately $383,000.

Several other hedge funds have also recently made changes to their positions in L. Sei Investments Co. boosted its holdings in Loews by 0.3% in the first quarter. Sei Investments Co. now owns 217,649 shares of the insurance provider's stock valued at $18,481,000 after purchasing an additional 674 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Loews by 20.7% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 106,285 shares of the insurance provider's stock valued at $9,769,000 after purchasing an additional 18,236 shares during the last quarter. National Pension Service boosted its holdings in Loews by 0.9% in the first quarter. National Pension Service now owns 33,595 shares of the insurance provider's stock valued at $3,088,000 after purchasing an additional 299 shares during the last quarter. Prudential PLC boosted its holdings in Loews by 6.2% in the first quarter. Prudential PLC now owns 24,334 shares of the insurance provider's stock valued at $2,237,000 after purchasing an additional 1,421 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its holdings in Loews by 1.4% in the first quarter. Resona Asset Management Co. Ltd. now owns 88,375 shares of the insurance provider's stock valued at $8,112,000 after purchasing an additional 1,246 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

Loews Trading Down 0.6%

Loews stock traded down $0.54 during trading on Friday, hitting $95.04. The company had a trading volume of 947,329 shares, compared to its average volume of 723,908. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $96.10. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The company's 50 day simple moving average is $91.20 and its 200-day simple moving average is $88.19. The stock has a market cap of $19.71 billion, a price-to-earnings ratio of 15.11 and a beta of 0.69.

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

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, August 20th. Loews's payout ratio is 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.