Citigroup Inc. Increases Position in Loews Corporation (NYSE:L)

Citigroup Inc. boosted its position in shares of Loews Corporation (NYSE:L - Free Report) by 43.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 234,113 shares of the insurance provider's stock after buying an additional 71,244 shares during the quarter. Citigroup Inc. owned approximately 0.11% of Loews worth $21,517,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of L. Envestnet Asset Management Inc. boosted its position in Loews by 3.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 173,823 shares of the insurance provider's stock worth $14,721,000 after acquiring an additional 6,055 shares during the last quarter. Cerity Partners LLC boosted its position in Loews by 3.8% during the fourth quarter. Cerity Partners LLC now owns 30,893 shares of the insurance provider's stock worth $2,550,000 after acquiring an additional 1,138 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Loews during the fourth quarter worth about $4,876,000. Capital Fund Management S.A. raised its stake in Loews by 55.3% during the fourth quarter. Capital Fund Management S.A. now owns 37,099 shares of the insurance provider's stock worth $3,142,000 after purchasing an additional 13,216 shares during the period. Finally, Sterling Capital Management LLC raised its stake in Loews by 53.7% during the fourth quarter. Sterling Capital Management LLC now owns 10,614 shares of the insurance provider's stock worth $899,000 after purchasing an additional 3,708 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Stock Down 0.6%

L traded down $0.54 during trading hours on Friday, hitting $95.04. 947,329 shares of the company's stock were exchanged, compared to its average volume of 723,908. Loews Corporation has a 12-month low of $75.16 and a 12-month high of $96.10. The firm has a 50 day moving average of $91.20 and a 200 day moving average of $88.19. The firm has a market cap of $19.71 billion, a P/E ratio of 15.11 and a beta of 0.69. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43.

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. Loews had a net margin of 7.47% and a return on equity of 7.43%. The firm had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. Loews's dividend payout ratio is currently 3.97%.

Analyst Upgrades and Downgrades

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 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.