National Bank of Canada FI Has $13.50 Million Stake in Loews Corporation (NYSE:L)

Key Points

• National Bank of Canada FI increased its holdings in Loews Corporation by 51.3%, now owning 146,927 shares worth approximately $13.5 million.
• Loews Corporation reported $1.87 earnings per share (EPS) for the latest quarter, with a net margin of 7.47% and a return on equity of 7.43%.
• The company announced a quarterly dividend of $0.0625 per share, with an annual yield of 0.3% and a dividend payout ratio of 3.97%.

National Bank of Canada FI increased its position in Loews Corporation (NYSE:L - Free Report) by 51.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 146,927 shares of the insurance provider's stock after purchasing an additional 49,833 shares during the period. National Bank of Canada FI owned 0.07% of Loews worth $13,504,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in shares of Loews during the first quarter valued at approximately $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of Loews during the fourth quarter valued at approximately $27,000. Sierra Ocean LLC raised its holdings in shares of Loews by 805.9% during the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after buying an additional 274 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of Loews by 387.6% during the fourth 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 during the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Loews during the first quarter valued at approximately $40,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

NYSE:L traded up $0.24 during midday trading on Thursday, hitting $95.65. 647,427 shares of the stock were exchanged, compared to its average volume of 778,198. Loews Corporation has a one year low of $75.16 and a one year high of $95.79. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of 15.21 and a beta of 0.69. The business has a 50-day moving average price of $90.94 and a two-hundred day moving average price of $88.04. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43.

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

Loews Dividend Announcement

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

Analyst Upgrades and Downgrades

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