Baird Financial Group Inc. Boosts Stock Position in Loews Corporation $L

Key Points

• Baird Financial Group Inc. increased its stake in Loews Corporation by 172.8% during Q1, now owning 16,433 shares valued at approximately $1.51 million.
• Loews has a current stock price of $96.56 and reported earnings of $1.87 EPS for the most recent quarter, with a revenue of $4.56 billion.
• The company declared a quarterly dividend of $0.0625, resulting in an annualized yield of 0.3%, with a low payout ratio of 3.97%.

Baird Financial Group Inc. lifted its stake in shares of Loews Corporation (NYSE:L - Free Report) by 172.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,433 shares of the insurance provider's stock after purchasing an additional 10,410 shares during the quarter. Baird Financial Group Inc.'s holdings in Loews were worth $1,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Miracle Mile Advisors LLC raised its stake in shares of Loews by 3.5% during the 1st quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock valued at $354,000 after purchasing an additional 130 shares during the period. Signaturefd LLC raised its stake in shares of Loews by 4.0% during the 1st quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock valued at $362,000 after purchasing an additional 152 shares during the period. Salvus Wealth Management LLC increased its stake in Loews by 1.4% in the 1st quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock worth $1,089,000 after acquiring an additional 165 shares during the last quarter. Flynn Zito Capital Management LLC increased its stake in Loews by 5.9% in the 1st quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider's stock worth $304,000 after acquiring an additional 183 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Loews by 80.1% in the 1st quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock worth $43,000 after acquiring an additional 209 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Price Performance

NYSE L traded down $0.33 during trading on Friday, reaching $97.72. The company's stock had a trading volume of 770,613 shares, compared to its average volume of 728,083. The stock has a market capitalization of $20.27 billion, a PE ratio of 15.54 and a beta of 0.73. 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 firm has a fifty day moving average of $93.87 and a 200 day moving average of $89.79. 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 announced its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The business had revenue of $4.56 billion for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

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