Loews Corporation (NYSE:L) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its holdings in Loews Corporation by 31.6%, owning 46,489 shares valued at approximately $4.27 million as of its latest SEC filing.
• Loews Corporation recently received an upgrade from a "hold" to a "buy" rating by Wall Street Zen, indicating increased analyst confidence in the stock.
• The firm reported a quarterly earnings per share (EPS) of $1.74 with a revenue of $4.49 billion, alongside a quarterly dividend of $0.0625 per share.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Loews Corporation (NYSE:L - Free Report) by 31.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,489 shares of the insurance provider's stock after acquiring an additional 11,162 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Loews were worth $4,273,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Wayfinding Financial LLC acquired a new position in Loews during the 1st quarter worth approximately $25,000. Minot DeBlois Advisors LLC acquired a new position in shares of Loews during the fourth quarter worth $27,000. Sierra Ocean LLC lifted its position in shares of Loews by 805.9% during the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of 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 during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.00% of the stock is owned by company insiders.

Loews Stock Up 0.3%

Shares of NYSE L opened at $90.54 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $93.23. The stock's 50-day simple moving average is $90.08 and its 200-day simple moving average is $87.53. The firm has a market cap of $18.99 billion, a price-to-earnings ratio of 14.87 and a beta of 0.70.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. The company 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. This represents a $0.25 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, May 28th. Loews's dividend payout ratio is 4.11%.

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.

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