Dimensional Fund Advisors LP Has $235.29 Million Stock Position in Loews Corporation $L

Key Points

• Dimensional Fund Advisors LP reduced its stake in Loews Corporation by 5.0%, now owning approximately 2.56 million shares worth about $235.3 million.
• Loews recently announced a quarterly dividend of $0.0625 per share, with an ex-dividend date set for August 20th and an annualized dividend yield of 0.3%.
• Separate from trading activities, Wall Street Zen upgraded Loews from a "hold" to a "buy" rating as of May 6th.

Dimensional Fund Advisors LP trimmed its position in Loews Corporation (NYSE:L - Free Report) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,560,189 shares of the insurance provider's stock after selling 134,167 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.22% of Loews worth $235,285,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Loews during the fourth quarter worth about $4,876,000. Townsquare Capital LLC bought a new position in Loews during the fourth quarter worth about $671,000. Guggenheim Capital LLC boosted its holdings in Loews by 37.1% during the fourth quarter. Guggenheim Capital LLC now owns 19,937 shares of the insurance provider's stock worth $1,688,000 after buying an additional 5,398 shares during the last quarter. United Capital Financial Advisors LLC boosted its holdings in Loews by 7.1% during the fourth quarter. United Capital Financial Advisors LLC now owns 5,197 shares of the insurance provider's stock worth $440,000 after buying an additional 343 shares during the last quarter. Finally, Farringdon Capital Ltd. bought a new position in Loews during the fourth quarter worth about $223,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

Shares of L stock traded down $0.1010 on Friday, hitting $96.2590. 766,076 shares of the company's stock were exchanged, compared to its average volume of 728,799. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. Loews Corporation has a 12 month low of $75.16 and a 12 month high of $97.41. The stock has a market cap of $19.97 billion, a P/E ratio of 15.30 and a beta of 0.69. The company has a 50 day moving average of $91.94 and a 200 day moving average of $88.52.

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

Loews Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Loews from a "hold" rating to a "buy" rating in a report 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.