Raymond James Financial Inc. Increases Stock Holdings in Loews Corporation $L

Key Points

• Raymond James Financial Inc. increased its stake in Loews Corporation by 15.7%, owning 66,600 shares valued at approximately $6.12 million as of the end of the last quarter.
• Loews announced a quarterly dividend of $0.0625 per share, translating to an annualized dividend of $0.25 and a dividend yield of 0.3%.
• Loews Corporation reported earnings of $1.87 per share and revenue of $4.56 billion during its last earnings release.

Raymond James Financial Inc. grew its stake in shares of Loews Corporation (NYSE:L - Free Report) by 15.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,600 shares of the insurance provider's stock after acquiring an additional 9,024 shares during the quarter. Raymond James Financial Inc.'s holdings in Loews were worth $6,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Miracle Mile Advisors LLC increased its holdings in Loews by 3.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock worth $354,000 after buying an additional 130 shares during the period. Signaturefd LLC increased its stake in Loews by 4.0% during the first quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock worth $362,000 after purchasing an additional 152 shares during the period. Salvus Wealth Management LLC grew its position in shares of Loews by 1.4% during the first quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock worth $1,089,000 after buying an additional 165 shares in the last quarter. Flynn Zito Capital Management LLC boosted its holdings in Loews by 5.9% in the first quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider's stock valued at $304,000 after purchasing an additional 183 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Loews by 80.1% during the first quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock worth $43,000 after purchasing an additional 209 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Price Performance

NYSE:L traded down $0.87 during mid-day trading on Monday, hitting $95.77. 321,563 shares of the company's stock traded hands, compared to its average volume of 775,895. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $97.77. The company has a market cap of $19.87 billion, a PE ratio of 15.23 and a beta of 0.73. The firm's 50 day simple moving average is $93.39 and its 200 day simple moving average is $89.43. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33.

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

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, August 20th. Loews's dividend payout ratio (DPR) is presently 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.