Loews Corporation $L Shares Bought by Jane Street Group LLC

Key Points

• Jane Street Group LLC increased its stake in Loews Corporation by 218.1% in the first quarter, owning approximately 0.07% of the company, valued at $13,056,000 after adding 97,391 shares.
• Wall Street analysts upgraded Loews from a "hold" rating to a "buy" rating, indicating potential growth for the company's stock.
• Loews Corporation recently declared a quarterly dividend of $0.0625 per share, with an annualized yield of 0.3% and a payout ratio of 3.97%.

Jane Street Group LLC raised its position in Loews Corporation (NYSE:L - Free Report) by 218.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 142,050 shares of the insurance provider's stock after buying an additional 97,391 shares during the period. Jane Street Group LLC owned about 0.07% of Loews worth $13,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock valued at $206,709,000 after buying an additional 151,428 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Loews by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider's stock valued at $120,549,000 after buying an additional 207,568 shares in the last quarter. California State Teachers Retirement System increased its holdings in Loews by 7.2% in the fourth quarter. California State Teachers Retirement System now owns 758,592 shares of the insurance provider's stock valued at $64,245,000 after buying an additional 51,028 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Loews by 1.3% in the first quarter. Hsbc Holdings PLC now owns 724,190 shares of the insurance provider's stock valued at $66,463,000 after buying an additional 9,357 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Loews by 10,114.9% in the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock valued at $61,776,000 after buying an additional 665,558 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Wall Street Analysts Forecast Growth

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

Loews Stock Up 0.3%

L stock opened at $96.82 on Friday. The stock has a market capitalization of $20.08 billion, a P/E ratio of 15.39 and a beta of 0.69. The firm has a 50-day simple moving average of $92.71 and a 200-day simple moving average of $88.92. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. Loews Corporation has a 52 week low of $75.16 and a 52 week high of $97.41.

Loews (NYSE:L - Get Free Report) last released its earnings results 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 Announces Dividend

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

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.

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