Loews Corporation (NYSE:L) Shares Acquired by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management Inc. increased its holdings in Loews Corporation by an astonishing 3,912.1% in the first quarter, totaling 8,947 shares valued at $822,000.
• Loews Corporation reported $1.74 earnings per share for its latest quarter, alongside a net margin of 7.47% and a revenue of $4.49 billion.
• The company recently declared a quarterly dividend of $0.0625 per share, translating to an annualized yield of 0.27%.

Meeder Asset Management Inc. boosted its stake in shares of Loews Corporation (NYSE:L - Free Report) by 3,912.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,947 shares of the insurance provider's stock after acquiring an additional 8,724 shares during the quarter. Meeder Asset Management Inc.'s holdings in Loews were worth $822,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in Loews in the first quarter valued at approximately $25,000. Sierra Ocean LLC grew its holdings in Loews by 805.9% in the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 274 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in Loews in the fourth quarter valued at approximately $27,000. Itau Unibanco Holding S.A. grew its holdings in Loews by 387.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 345 shares during the period. Finally, NBC Securities Inc. acquired a new stake in Loews in the first quarter valued at approximately $40,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Loews Price Performance

Shares of NYSE:L traded down $0.35 during trading on Friday, reaching $90.20. The stock had a trading volume of 984,617 shares, compared to its average volume of 760,704. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33. The business has a fifty day moving average price of $90.13 and a 200-day moving average price of $87.58. The stock has a market cap of $18.91 billion, a PE ratio of 14.81 and a beta of 0.70. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $93.23.

Loews (NYSE:L - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. The firm had revenue of $4.49 billion for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.3%. Loews's payout ratio is 4.11%.

Insiders Place Their Bets

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the transaction, the senior vice president owned 33,901 shares of the company's stock, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 19.00% of the company's stock.

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.