Loews Corporation (NYSE:L) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its holdings in Loews Corporation by 10.2%, selling 453,205 shares during the 1st quarter, bringing their ownership to approximately 4 million shares.
• Loews Corporation has declared a quarterly dividend of $0.0625 per share, with the annualized payout expected to be $0.25, reflecting a yield of 0.3%.
• Wall Street analysts upgraded Loews's rating from "hold" to "buy", indicating a positive outlook for the stock moving forward.

Invesco Ltd. reduced its holdings in Loews Corporation (NYSE:L - Free Report) by 10.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,009,182 shares of the insurance provider's stock after selling 453,205 shares during the quarter. Invesco Ltd. owned about 1.91% of Loews worth $368,484,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of L. OneDigital Investment Advisors LLC purchased a new position in Loews in the 1st quarter valued at approximately $224,000. Novem Group purchased a new position in Loews in the 4th quarter valued at approximately $678,000. SG Americas Securities LLC increased its stake in Loews by 589.9% in the 1st quarter. SG Americas Securities LLC now owns 10,162 shares of the insurance provider's stock valued at $934,000 after purchasing an additional 8,689 shares in the last quarter. Moody Lynn & Lieberson LLC purchased a new position in Loews in the 1st quarter valued at approximately $329,000. Finally, Penserra Capital Management LLC increased its stake in Loews by 2,074.6% in the 1st quarter. Penserra Capital Management LLC now owns 10,351 shares of the insurance provider's stock valued at $950,000 after purchasing an additional 9,875 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Performance

NYSE L opened at $93.70 on Tuesday. 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 business has a 50 day moving average price of $90.70 and a 200 day moving average price of $87.95. The company has a market capitalization of $19.44 billion, a P/E ratio of 14.90 and a beta of 0.69. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $94.62.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The company had revenue of $4.56 billion during 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 declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.3%. Loews's dividend payout ratio (DPR) is presently 3.97%.

Wall Street Analyst Weigh In

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

About Loews

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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