American Century Companies Inc. Acquires 6,660 Shares of Loews Corporation $L

Key Points

• American Century Companies Inc. has increased its stake in Loews Corporation by 7.4%, bringing its total shares owned to 96,249, valued at approximately $8.8 million.
• The company reported $1.87 earnings per share for its latest quarter, with a revenue of $4.56 billion and a net margin of 7.47%.
• Loews has declared a quarterly dividend of $0.0625 per share, with an annualized yield of 0.3%, set to be paid on September 2nd.

American Century Companies Inc. increased its position in Loews Corporation (NYSE:L - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,249 shares of the insurance provider's stock after buying an additional 6,660 shares during the quarter. American Century Companies Inc.'s holdings in Loews were worth $8,846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in L. Wayfinding Financial LLC purchased a new position in Loews during the first quarter valued at approximately $25,000. Minot DeBlois Advisors LLC acquired a new stake in Loews in the fourth quarter valued at approximately $27,000. Sierra Ocean LLC grew its position in Loews by 805.9% in the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock worth $28,000 after acquiring an additional 274 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Loews during the 1st quarter valued at $33,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in Loews by 387.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock worth $37,000 after purchasing an additional 345 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Stock Performance

Shares of NYSE:L traded up $0.30 during trading on Friday, hitting $96.82. 556,232 shares of the stock were exchanged, compared to its average volume of 775,514. The company's fifty day simple moving average is $92.71 and its 200-day simple moving average is $88.88. 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 company has a market capitalization of $20.08 billion, a price-to-earnings ratio of 15.39 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 posted its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The firm had revenue of $4.56 billion for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th will be issued 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 3.97%.

Wall Street Analysts Forecast Growth

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

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.