Redwood Investment Management LLC Invests $1.31 Million in Loews Corporation $L

Key Points

• Redwood Investment Management LLC has acquired a new position in Loews Corporation, purchasing 14,239 shares valued at approximately $1.3 million during the first quarter.
• Loews has recently been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating positive growth expectations.
• The company declared a quarterly dividend of $0.0625, payable on September 2nd, with a projected annualized dividend yield of 0.3%.

Redwood Investment Management LLC purchased a new stake in shares of Loews Corporation (NYSE:L - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 14,239 shares of the insurance provider's stock, valued at approximately $1,309,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Miracle Mile Advisors LLC raised its stake in Loews by 3.5% during the first quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock valued at $354,000 after buying an additional 130 shares during the last quarter. Signaturefd LLC boosted its stake in Loews by 4.0% in the 1st quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock worth $362,000 after purchasing an additional 152 shares in the last quarter. Salvus Wealth Management LLC grew its position in Loews by 1.4% during the 1st quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock valued at $1,089,000 after purchasing an additional 165 shares during the last quarter. Flynn Zito Capital Management LLC increased its stake in Loews by 5.9% during the 1st 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. raised its holdings in Loews by 80.1% in the first quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock worth $43,000 after buying an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Performance

Shares of NYSE L traded up $0.30 during trading on Friday, reaching $96.82. 556,232 shares of the company traded hands, compared to its average volume of 775,514. The firm has a 50 day simple moving average of $92.71 and a 200-day simple moving average of $88.88. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $97.41. The stock has a market capitalization of $20.08 billion, a PE ratio of 15.39 and a beta of 0.69. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43.

Loews (NYSE:L - Get Free Report) last issued its 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 company had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

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

Analyst Ratings Changes

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

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.