Vanguard Group Inc. Sells 1,339,586 Shares of Loews Corporation (NYSE:L)

Key Points

• Vanguard Group Inc. has reduced its stake in Loews Corporation by 6.4%, owning approximately 19.6 million shares valued at $1.8 billion after selling over 1.3 million shares in the first quarter.
• The company reported earnings of $1.87 per share with a revenue of $4.56 billion for the most recent quarter, showcasing a net margin of 7.47%.
• Loews Corporation will pay a quarterly dividend of $0.0625 on September 2nd, representing a 0.3% dividend yield with a payout ratio of 3.97%.

Vanguard Group Inc. trimmed its position in Loews Corporation (NYSE:L - Free Report) by 6.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,601,981 shares of the insurance provider's stock after selling 1,339,586 shares during the period. Vanguard Group Inc. owned approximately 9.32% of Loews worth $1,801,618,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in Loews in the first quarter valued at approximately $25,000. Minot DeBlois Advisors LLC acquired a new position in shares of Loews in the 4th quarter valued at approximately $27,000. Sierra Ocean LLC raised its position in shares of Loews by 805.9% in the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after buying an additional 274 shares in the last quarter. Itau Unibanco Holding S.A. raised its position in shares of Loews by 387.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after buying an additional 345 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Loews in the 1st quarter valued at approximately $40,000. 58.33% of the stock is currently owned by institutional investors.

Loews Price Performance

Shares of L stock traded up $0.67 during trading hours on Tuesday, reaching $94.35. The company's stock had a trading volume of 543,055 shares, compared to its average volume of 754,130. The firm's 50 day simple moving average is $90.79 and its 200-day simple moving average is $87.99. The company has a market capitalization of $19.57 billion, a price-to-earnings ratio of 15.00 and a beta of 0.69. Loews Corporation has a fifty-two week low of $75.16 and a fifty-two week high of $94.62. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 EPS 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th will be paid a $0.0625 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. Loews's dividend payout ratio (DPR) is currently 3.97%.

Wall Street Analyst Weigh In

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

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.