Loews Corporation $L Stock Holdings Trimmed by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management reduced its Loews stake by 3.6% in the second quarter, selling 45,128 shares and retaining 1.20 million shares worth approximately $136.4 million. Institutional investors and hedge funds collectively own 58.33% of the company.
• Weiss Ratings upgraded Loews from “buy (B+)” to “buy (A-),” while the stock holds an average “Strong Buy” rating based on MarketBeat data.
• Loews reported quarterly earnings of $2.16 per share on $4.73 billion in revenue and recently paid a quarterly dividend of $0.0625 per share, equivalent to a 0.2% yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Loews Corporation (NYSE:L - Free Report) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,204,563 shares of the insurance provider's stock after selling 45,128 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.59% of Loews worth $136,369,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Bank acquired a new stake in shares of Loews in the second quarter valued at $204,000. New Mexico Educational Retirement Board boosted its holdings in shares of Loews by 7.7% in the second quarter. New Mexico Educational Retirement Board now owns 8,395 shares of the insurance provider's stock worth $950,000 after buying an additional 600 shares during the period. Mufg Securities Americas Inc. boosted its stake in Loews by 8.7% in the 2nd quarter. Mufg Securities Americas Inc. now owns 5,082 shares of the insurance provider's stock worth $575,000 after purchasing an additional 407 shares during the period. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Loews in the second quarter worth $439,000. Finally, Hsbc Holdings PLC grew its stake in Loews by 7.6% during the 2nd quarter. Hsbc Holdings PLC now owns 630,332 shares of the insurance provider's stock valued at $71,453,000 after acquiring an additional 44,772 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Loews from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Loews currently has an average rating of "Strong Buy".

Loews Stock Performance

NYSE:L opened at $108.59 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The firm's fifty day simple moving average is $113.97 and its 200 day simple moving average is $110.21. The firm has a market capitalization of $22.20 billion, a PE ratio of 13.31 and a beta of 0.51. Loews Corporation has a 1 year low of $95.10 and a 1 year high of $121.01.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. The business had revenue of $4.73 billion during the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews's payout ratio is presently 3.06%.

Loews Company Profile

Loews Corporation NYSE: L is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews' principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.

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