Northern Trust Corp Has $206.71 Million Stock Position in Loews Corporation $L

Key Points

• Northern Trust Corp increased its stake in Loews Corporation by 7.2%, acquiring an additional 151,428 shares and totaling approximately $206.7 million in value.
• Loews plans to pay a $0.0625 quarterly dividend on September 2nd, representing an annual yield of 0.3% and a payout ratio of 3.97%.
• Wall Street analysts upgraded Loews from a "hold" to a "buy" rating, suggesting positive future expectations for the stock.

Northern Trust Corp raised its holdings in Loews Corporation (NYSE:L - Free Report) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,249,036 shares of the insurance provider's stock after buying an additional 151,428 shares during the quarter. Northern Trust Corp owned 1.07% of Loews worth $206,709,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in Loews in the 1st quarter valued at $25,000. Sierra Ocean LLC increased its holdings in 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 during the period. Minot DeBlois Advisors LLC bought a new stake in Loews in the 4th quarter valued at $27,000. Elequin Capital LP bought a new stake in Loews in the 1st quarter valued at $30,000. Finally, Zions Bancorporation National Association UT bought a new stake in Loews in the 1st quarter valued at $33,000. Institutional investors own 58.33% of the company's stock.

Analyst Ratings Changes

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

Loews Price Performance

Shares of NYSE:L traded up $0.60 on Wednesday, hitting $96.50. The stock had a trading volume of 617,196 shares, compared to its average volume of 798,959. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $97.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The firm's 50 day moving average price is $92.40 and its 200-day moving average price is $88.72. The company has a market capitalization of $20.02 billion, a price-to-earnings ratio of 15.34 and a beta of 0.69.

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 business 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th will be given a dividend of $0.0625 per share. 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 is 3.97%.

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.