Levin Capital Strategies L.P. Lowers Stake in Loews Corporation (NYSE:L)

Key Points

• Levin Capital Strategies L.P. reduced its holdings in Loews Corporation by 6.3%, now owning 107,811 shares worth approximately $9.91 million.
• Wall Street analysts have upgraded Loews shares from a "hold" rating to a "buy" rating, indicating positive future expectations for the company.
• Loews recently declared a quarterly dividend of $0.0625 per share, reflecting an annualized dividend yield of 0.3%.

Levin Capital Strategies L.P. lessened its position in shares of Loews Corporation (NYSE:L - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,811 shares of the insurance provider's stock after selling 7,274 shares during the quarter. Levin Capital Strategies L.P. owned about 0.05% of Loews worth $9,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of L. Wayfinding Financial LLC purchased a new stake in Loews during the 1st quarter worth approximately $25,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Loews during the fourth quarter worth $27,000. Sierra Ocean LLC grew its holdings in shares of Loews by 805.9% during the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after buying an additional 274 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Loews by 387.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 345 shares during the period. Finally, NBC Securities Inc. acquired a new position in shares of Loews in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Performance

NYSE L traded down $0.86 during trading hours on Thursday, reaching $93.22. The stock had a trading volume of 519,234 shares, compared to its average volume of 795,782. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $94.62. The stock has a fifty day moving average of $90.44 and a 200 day moving average of $87.74. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market cap of $19.34 billion, a P/E ratio of 14.82 and a beta of 0.69.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data 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 net margin of 7.47% and a return on equity of 7.43%.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 yield of 0.3%. The ex-dividend date of this dividend is Wednesday, August 20th. Loews's dividend payout ratio (DPR) is currently 4.11%.

Analyst Ratings Changes

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

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.