Intech Investment Management LLC Has $3.51 Million Holdings in 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 reduced its holdings in Loews Corporation (NYSE:L - Free Report) by 23.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,204 shares of the insurance provider's stock after selling 11,760 shares during the quarter. Intech Investment Management LLC's holdings in Loews were worth $3,511,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in L. GAMMA Investing LLC boosted its position in shares of Loews by 10,114.9% during the 1st quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock worth $61,776,000 after acquiring an additional 665,558 shares in the last quarter. Nuveen LLC bought a new position in Loews in the 1st quarter worth $34,166,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Loews by 17.1% during the 4th 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 acquiring an additional 207,568 shares during the last quarter. Northern Trust Corp lifted its holdings in Loews by 7.2% during the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock valued at $206,709,000 after purchasing an additional 151,428 shares in the last quarter. Finally, Millennium Management LLC increased its position in Loews by 140.4% during the first quarter. Millennium Management LLC now owns 251,175 shares of the insurance provider's stock valued at $23,085,000 after acquiring an additional 146,695 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Stock Down 0.7%

Shares of L stock traded down $0.70 during mid-day trading on Monday, hitting $96.95. 635,511 shares of the stock traded hands, compared to its average volume of 719,246. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $98.33. The stock's fifty day moving average is $93.98 and its two-hundred day moving average is $89.93. 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 cap of $20.11 billion, a P/E ratio of 15.41 and a beta of 0.73.

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 company had revenue of $4.56 billion for the quarter.

Loews Dividend Announcement

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

Loews Company 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.