Loews Corporation $L Shares Purchased by Allstate Corp

Key Points

• Allstate Corp increased its stake in Loews Corporation by 53.1% during the 1st quarter, acquiring an additional 4,926 shares, bringing its total holdings to 14,196 shares valued at approximately $1.3 million.
• Loews Corporation reported a quarterly revenue of $4.56 billion and earnings per share of $1.87, alongside a return on equity of 7.43% and a net margin of 7.47% in its latest earnings results.
• The company announced a quarterly dividend of $0.0625 per share, payable on September 2nd, with an ex-dividend date of August 20th, resulting in an annualized yield of 0.3%.

Allstate Corp boosted its position in shares of Loews Corporation (NYSE:L - Free Report) by 53.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,196 shares of the insurance provider's stock after buying an additional 4,926 shares during the period. Allstate Corp's holdings in Loews were worth $1,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wayfinding Financial LLC purchased a new stake in shares of Loews during the first quarter worth approximately $25,000. Minot DeBlois Advisors LLC acquired a new stake in Loews in the 4th quarter valued at about $27,000. Sierra Ocean LLC increased its stake in shares of Loews by 805.9% during the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Loews in the first quarter worth $30,000. Finally, Zions Bancorporation National Association UT purchased a new position in Loews in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Up 0.2%

L stock traded up $0.19 during trading on Thursday, reaching $96.56. The stock had a trading volume of 613,984 shares, compared to its average volume of 780,700. The firm has a fifty day moving average price of $92.40 and a 200 day moving average price of $88.72. 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 has a market capitalization of $20.03 billion, a P/E ratio of 15.35 and a beta of 0.69. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $97.41.

Loews (NYSE:L - Get Free Report) last issued 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 during the quarter.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, August 20th. Loews's payout ratio is 3.97%.

Wall Street Analyst Weigh In

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

About Loews

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.