Swedbank AB Lowers Position in Loews Corporation $L

Key Points

• Swedbank AB has reduced its stake in Loews Corporation by 27.4%, now holding approximately 403,793 shares valued at $37 million.
• Loews Corporation reported $1.87 earnings per share for the most recent quarter, with a revenue of $4.56 billion and a net margin of 7.47%.
• The company has announced a quarterly dividend of $0.0625 per share, reflecting a 0.3% yield for investors.

Swedbank AB lessened its stake in Loews Corporation (NYSE:L - Free Report) by 27.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 403,793 shares of the insurance provider's stock after selling 152,557 shares during the period. Swedbank AB owned about 0.19% of Loews worth $37,012,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in shares of Loews in the 1st quarter valued at about $25,000. Sierra Ocean LLC grew its position in shares of Loews by 805.9% in the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after buying an additional 274 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Loews in the 1st quarter valued at about $30,000. Zions Bancorporation National Association UT bought a new stake in shares of Loews in the 1st quarter valued at about $33,000. Finally, NBC Securities Inc. bought a new stake in shares of Loews in the 1st quarter valued at about $40,000. Institutional investors own 58.33% of the company's stock.

Loews Trading Up 0.5%

Shares of Loews stock traded up $0.44 on Monday, hitting $97.13. 337,264 shares of the company's stock traded hands, compared to its average volume of 783,538. Loews Corporation has a one year low of $75.16 and a one year 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 company has a fifty day moving average of $94.43 and a two-hundred day moving average of $90.24. The company has a market capitalization of $20.15 billion, a price-to-earnings ratio of 15.44 and a beta of 0.73.

Loews (NYSE:L - Get Free Report) last announced its earnings results 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 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 given a dividend of $0.0625 per share. 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 is presently 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.