Martingale Asset Management L P Cuts Position in Loews Corporation $L

Key Points

• Martingale Asset Management L P reduced its stake in Loews Corporation by 17.7% during the first quarter, selling 38,202 shares and now owns around 0.08% of the company's stock, valued at approximately $16.3 million.
• Loews reported $1.87 earnings per share (EPS) in its latest quarterly earnings, with a revenue of $4.56 billion and a return on equity of 7.43%.
• The company declared a quarterly dividend of $0.0625 per share, representing an annual yield of 0.3%, set to be paid to shareholders on September 2nd.

Martingale Asset Management L P lowered its stake in Loews Corporation (NYSE:L - Free Report) by 17.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,186 shares of the insurance provider's stock after selling 38,202 shares during the quarter. Martingale Asset Management L P owned about 0.08% of Loews worth $16,285,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Northern Trust Corp lifted its position in Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock valued at $206,709,000 after buying an additional 151,428 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Loews by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider's stock valued at $120,549,000 after buying an additional 207,568 shares during the last quarter. California State Teachers Retirement System lifted its position in Loews by 7.2% in the fourth quarter. California State Teachers Retirement System now owns 758,592 shares of the insurance provider's stock valued at $64,245,000 after buying an additional 51,028 shares during the last quarter. Hsbc Holdings PLC lifted its position in Loews by 1.3% in the first quarter. Hsbc Holdings PLC now owns 724,190 shares of the insurance provider's stock valued at $66,463,000 after buying an additional 9,357 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Loews by 10,114.9% in the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock valued at $61,776,000 after buying an additional 665,558 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Trading Down 0.1%

NYSE:L traded down $0.1010 on Friday, reaching $96.2590. 766,076 shares of the company's stock were exchanged, compared to its average volume of 728,799. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $19.97 billion, a price-to-earnings ratio of 15.30 and a beta of 0.69. The business has a fifty day moving average of $91.94 and a 200-day moving average of $88.54. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $97.41.

Loews (NYSE:L - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. The company had revenue of $4.56 billion for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Loews from a "hold" rating to a "buy" rating in a research report 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.