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Penserra Capital Management LLC Buys 9,875 Shares of Loews Corporation (NYSE:L)

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Penserra Capital Management LLC increased its stake in Loews Corporation (NYSE:L - Free Report) by 2,074.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,351 shares of the insurance provider's stock after purchasing an additional 9,875 shares during the period. Penserra Capital Management LLC's holdings in Loews were worth $950,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of L. US Bancorp DE increased its position in shares of Loews by 3.1% in the 4th quarter. US Bancorp DE now owns 7,715 shares of the insurance provider's stock valued at $653,000 after buying an additional 233 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Loews by 13.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider's stock valued at $206,000 after buying an additional 288 shares in the last quarter. Assetmark Inc. increased its position in shares of Loews by 117.2% in the 4th quarter. Assetmark Inc. now owns 832 shares of the insurance provider's stock valued at $70,000 after buying an additional 449 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Loews in the 4th quarter valued at $5,359,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Loews in the 4th quarter valued at $4,876,000. Institutional investors own 58.33% of the company's stock.

Loews Stock Performance

NYSE:L traded up $0.07 during mid-day trading on Friday, hitting $90.57. The stock had a trading volume of 862,143 shares, compared to its average volume of 739,772. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $92.85. The stock has a market cap of $18.99 billion, a price-to-earnings ratio of 14.87 and a beta of 0.70. The company's 50 day simple moving average is $89.21 and its 200 day simple moving average is $86.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. The firm had revenue of $4.49 billion for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. Loews's dividend payout ratio is 4.11%.

Insider Buying and Selling

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the sale, the senior vice president owned 33,901 shares of the company's stock, valued at approximately $2,980,575.92. This trade represents a 21.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on Loews

Loews Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Loews (NYSE:L)

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