Loews Corporation $L Shares Sold by Amundi

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 lessened its position in Loews Corporation (NYSE:L - Free Report) by 12.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 887,574 shares of the insurance provider's stock after selling 125,255 shares during the period. Amundi owned approximately 0.42% of Loews worth $80,867,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Jane Street Group LLC lifted its stake in shares of Loews by 218.1% in the 1st quarter. Jane Street Group LLC now owns 142,050 shares of the insurance provider's stock worth $13,056,000 after acquiring an additional 97,391 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of Loews in the 1st quarter worth $224,000. American Century Companies Inc. lifted its stake in shares of Loews by 7.4% in the 1st quarter. American Century Companies Inc. now owns 96,249 shares of the insurance provider's stock worth $8,846,000 after acquiring an additional 6,660 shares during the period. Novem Group acquired a new stake in shares of Loews in the 4th quarter worth $678,000. Finally, SG Americas Securities LLC lifted its stake in shares of Loews by 589.9% in the 1st quarter. SG Americas Securities LLC now owns 10,162 shares of the insurance provider's stock worth $934,000 after acquiring an additional 8,689 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Stock Down 1.0%

L stock opened at $96.56 on Friday. Loews Corporation has a one year low of $75.16 and a one year high of $97.77. The stock has a market capitalization of $20.03 billion, a PE ratio of 15.35 and a beta of 0.73. 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 fifty day moving average of $93.39 and a 200-day moving average of $89.38.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The firm had revenue of $4.56 billion during the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. Loews's dividend payout ratio (DPR) is 3.97%.

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.

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