Intech Investment Management LLC Sells 11,760 Shares of Loews Corporation $L

Key Points

• Intech Investment Management LLC reduced its stake in Loews Corporation by 23.5% during the first quarter, now holding 38,204 shares valued at $3.5 million.
• Loews Corporation reported a quarterly EPS of $1.87 and a revenue of $4.56 billion, with a return on equity of 7.43%.
• The company issued a quarterly dividend of $0.0625, resulting in an annualized yield of 0.3% and a payout ratio of 3.97%.

Intech Investment Management LLC cut its stake in shares of Loews Corporation (NYSE:L - Free Report) by 23.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,204 shares of the insurance provider's stock after selling 11,760 shares during the period. Intech Investment Management LLC's holdings in Loews were worth $3,511,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Northern Trust Corp grew its stake in shares of Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock worth $206,709,000 after purchasing an additional 151,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Loews by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,496,606 shares of the insurance provider's stock valued at $137,553,000 after buying an additional 73,197 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 during the period. California State Teachers Retirement System lifted 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 during the period. Finally, Hsbc Holdings PLC lifted 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 during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Up 0.3%

Shares of L stock traded up $0.33 on Thursday, reaching $97.12. 971,261 shares of the company were exchanged, compared to its average volume of 708,761. The company has a market cap of $20.15 billion, a price-to-earnings ratio of 15.44 and a beta of 0.73. The company has a 50-day moving average of $94.31 and a 200-day moving average of $90.09. 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 one year low of $75.16 and a one year high of $98.33.

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

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews's dividend payout ratio 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.