Loews Corporation $L Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its stake in Loews Corporation by 7,264.3% in Q1, owning 5,155 shares valued at $474,000 after purchasing an additional 5,085 shares.
• Loews Corporation's recent earnings report showed an EPS of $1.87 for the quarter, alongside revenues of $4.56 billion.
• The company announced a quarterly dividend of $0.0625 per share, contributing to an annualized yield of 0.3%.

AlphaQuest LLC lifted its stake in shares of Loews Corporation (NYSE:L - Free Report) by 7,264.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,155 shares of the insurance provider's stock after purchasing an additional 5,085 shares during the quarter. AlphaQuest LLC's holdings in Loews were worth $474,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Allstate Corp grew its stake in Loews by 53.1% in the 1st quarter. Allstate Corp now owns 14,196 shares of the insurance provider's stock valued at $1,305,000 after acquiring an additional 4,926 shares during the last quarter. Compound Planning Inc. grew its stake in Loews by 12.0% in the 1st quarter. Compound Planning Inc. now owns 4,851 shares of the insurance provider's stock valued at $446,000 after acquiring an additional 520 shares during the last quarter. Norinchukin Bank The grew its stake in Loews by 11.8% in the 1st quarter. Norinchukin Bank The now owns 8,566 shares of the insurance provider's stock valued at $787,000 after acquiring an additional 902 shares during the last quarter. Capital Fund Management S.A. grew its stake in Loews by 30.9% in the 1st quarter. Capital Fund Management S.A. now owns 48,553 shares of the insurance provider's stock valued at $4,463,000 after acquiring an additional 11,454 shares during the last quarter. Finally, Credit Agricole S A grew its stake in Loews by 1.8% in the 1st quarter. Credit Agricole S A now owns 52,321 shares of the insurance provider's stock valued at $4,809,000 after acquiring an additional 935 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

Loews Trading Up 0.3%

Loews stock traded up $0.30 during trading on Friday, reaching $96.82. The company had a trading volume of 556,232 shares, compared to its average volume of 775,514. Loews Corporation has a 12-month low of $75.16 and a 12-month high of $97.41. The stock's 50 day moving average price is $92.71 and its two-hundred day moving average price is $88.88. The firm has a market capitalization of $20.08 billion, a price-to-earnings ratio of 15.39 and a beta of 0.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. The firm 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 declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th will be paid 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 is Wednesday, August 20th. Loews's payout ratio is 3.97%.

About Loews

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.