Mizuho Securities USA LLC Has $1.30 Million Position in Loews Corporation (NYSE:L)

Key Points

• Mizuho Securities USA LLC has reduced its stake in Loews Corporation by 17.4%, holding 14,146 shares worth approximately $1.3 million after selling 2,985 shares.
• Loews Corporation's stock recently received a buy rating upgrade from Wall Street Zen, indicating a positive outlook for the company's shares.
• The company announced a quarterly dividend of $0.0625, scheduled for payment on September 2nd, translating to a 0.3% dividend yield.

Mizuho Securities USA LLC trimmed its stake in Loews Corporation (NYSE:L - Free Report) by 17.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,146 shares of the insurance provider's stock after selling 2,985 shares during the period. Mizuho Securities USA LLC's holdings in Loews were worth $1,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in L. Northern Trust Corp lifted its stake in Loews by 2.6% during the fourth quarter. Northern Trust Corp now owns 2,097,608 shares of the insurance provider's stock worth $177,646,000 after purchasing an additional 53,625 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Loews by 17.1% in the 4th 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 worth $120,549,000 after buying an additional 207,568 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Loews by 7.2% during the 4th quarter. California State Teachers Retirement System now owns 758,592 shares of the insurance provider's stock worth $64,245,000 after buying an additional 51,028 shares during the period. Hsbc Holdings PLC lifted its position in shares of Loews by 2.3% during the 4th quarter. Hsbc Holdings PLC now owns 714,833 shares of the insurance provider's stock worth $60,535,000 after buying an additional 15,888 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Loews by 10,114.9% in the 1st 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 in the last quarter. Institutional investors own 58.33% of the company's stock.

Loews Price Performance

Shares of NYSE:L traded down $0.54 during midday trading on Friday, reaching $95.04. The company's stock had a trading volume of 947,329 shares, compared to its average volume of 723,908. The business's fifty day simple moving average is $91.20 and its 200-day simple moving average is $88.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. Loews Corporation has a fifty-two week low of $75.16 and a fifty-two week high of $96.10. The company has a market capitalization of $19.71 billion, a P/E ratio of 15.11 and a beta of 0.69.

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

Loews Announces Dividend

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

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Loews from a "hold" rating to a "buy" rating in a research note 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.