Amundi Reduces Stake in Loews Corporation $L

Key Points

• Amundi reduced its stake in Loews Corporation by 12.4%, selling 125,255 shares during the first quarter, leaving it with approximately 0.42% ownership worth $80.87 million.
• Loews Corporation reported a $1.87 EPS and a revenue of $4.56 billion during its last quarterly earnings announcement.
• The company recently declared a quarterly dividend of $0.0625, representing an annualized dividend yield of 0.3%.

Amundi trimmed its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 887,574 shares of the insurance provider's stock after selling 125,255 shares during the quarter. Amundi owned approximately 0.42% of Loews worth $80,867,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in L. Wayfinding Financial LLC acquired a new position in shares of Loews during the 1st quarter worth approximately $25,000. Minot DeBlois Advisors LLC acquired a new position in shares of Loews during the 4th quarter worth approximately $27,000. Sierra Ocean LLC raised 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 buying an additional 274 shares during the period. Elequin Capital LP acquired a new position in shares of Loews during the 1st quarter worth approximately $30,000. Finally, Zions Bancorporation National Association UT acquired a new position in Loews in the 1st quarter valued at $33,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Price Performance

NYSE L traded down $0.33 during mid-day trading on Friday, hitting $97.72. The stock had a trading volume of 770,613 shares, compared to its average volume of 728,083. The firm's 50 day moving average is $93.87 and its 200 day moving average is $89.79. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $98.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $20.27 billion, a price-to-earnings ratio of 15.54 and a beta of 0.73.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data 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 announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, August 20th. Loews's dividend 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.