Russell Investments Group Ltd. Sells 35,609 Shares of Loews Corporation $L

Key Points

• Russell Investments Group Ltd. reduced its holdings in Loews Corporation by 30% in Q1, now owning 83,248 shares worth $7.65 million.
• Loews announced a quarterly dividend of $0.0625, reflecting an annualized dividend of $0.25 and a dividend yield of 0.3%.
• Loews Corporation reported $1.87 earnings per share for the last quarter with a net margin of 7.47% and a market capitalization of $19.90 billion.

Russell Investments Group Ltd. trimmed its position in Loews Corporation (NYSE:L - Free Report) by 30.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,248 shares of the insurance provider's stock after selling 35,609 shares during the quarter. Russell Investments Group Ltd.'s holdings in Loews were worth $7,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in L. Raymond James Financial Inc. acquired a new position in Loews in the 4th quarter valued at about $4,876,000. Commerce Bank increased its position in Loews by 15.6% during the 4th quarter. Commerce Bank now owns 3,657 shares of the insurance provider's stock worth $310,000 after buying an additional 493 shares during the period. First Trust Advisors LP lifted its holdings in shares of Loews by 51.2% during the fourth quarter. First Trust Advisors LP now owns 531,038 shares of the insurance provider's stock worth $44,974,000 after buying an additional 179,772 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Loews in the fourth quarter valued at about $258,000. Finally, Norinchukin Bank The boosted its position in shares of Loews by 6.1% in the fourth quarter. Norinchukin Bank The now owns 7,664 shares of the insurance provider's stock valued at $649,000 after acquiring an additional 443 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Loews Price Performance

Shares of L traded down $0.1010 during trading hours on Friday, hitting $96.2590. 766,076 shares of the company were exchanged, compared to its average volume of 728,799. 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 Corporation has a fifty-two week low of $75.16 and a fifty-two week high of $97.41. The company has a market cap of $19.97 billion, a price-to-earnings ratio of 15.30 and a beta of 0.69. The firm's fifty day moving average is $91.94 and its 200 day moving average is $88.52.

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

Loews Dividend Announcement

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

Analyst Upgrades and Downgrades

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.