Loews Corporation $L Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Loews by 1.2% in the first quarter, bringing its holdings to 2.27 million shares valued at about $242.3 million.
• Institutional ownership remains high, with hedge funds and other institutions holding 58.33% of Loews shares; several major investors, including Vanguard and Geode Capital, also recently added to positions.
• Loews posted solid operating results and returned cash to shareholders, reporting Q1 EPS of $1.63 on revenue of $4.55 billion, while paying a quarterly dividend of $0.0625 per share.

Dimensional Fund Advisors LP lifted its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,270,492 shares of the insurance provider's stock after acquiring an additional 28,016 shares during the quarter. Dimensional Fund Advisors LP owned about 1.10% of Loews worth $242,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Loews by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider's stock worth $2,045,759,000 after buying an additional 108,882 shares in the last quarter. Norges Bank bought a new stake in shares of Loews during the 4th quarter valued at about $577,279,000. Geode Capital Management LLC boosted its position in Loews by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider's stock valued at $524,599,000 after purchasing an additional 271,234 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Loews by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider's stock worth $419,581,000 after acquiring an additional 344,995 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Loews by 0.4% in the 3rd quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider's stock worth $337,698,000 after buying an additional 12,311 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy".

Loews Stock Up 0.8%

NYSE L opened at $115.58 on Friday. Loews Corporation has a 12 month low of $89.32 and a 12 month high of $119.10. The company has a market capitalization of $23.78 billion, a P/E ratio of 14.69 and a beta of 0.52. The company's 50 day simple moving average is $110.45 and its 200 day simple moving average is $108.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.The company had revenue of $4.55 billion for the quarter.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a $0.0625 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews's dividend payout ratio (DPR) is 3.18%.

Insider Buying and Selling at Loews

In related news, Director Dino Robusto purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $104.74 per share, with a total value of $523,700.00. Following the purchase, the director owned 10,235 shares of the company's stock, valued at $1,072,013.90. This trade represents a 95.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 19.00% of the stock is owned by company insiders.

Loews Profile

Loews Corporation NYSE: L is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews' principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.

Want to see what other hedge funds are holding L? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loews Corporation (NYSE:L - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.