Schwerin Boyle Capital Management Inc. Sells 10,066 Shares of Loews Corporation $L

Key Points

• Schwerin Boyle Capital Management Inc. reduced its stake in Loews Corporation by 4.4%, now holding approximately 2.1% of the company's shares valued at $20.15 million.
• Several hedge funds have recently made moves regarding Loews shares, with notable changes including Kovitz Investment Group Partners LLC increasing its stake by 16.6%.
• Loews Corporation announced a quarterly dividend of $0.0625 per share, representing an annualized yield of 0.3%, with an ex-dividend date set for August 20th.

Schwerin Boyle Capital Management Inc. lowered its position in shares of Loews Corporation (NYSE:L - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 219,209 shares of the insurance provider's stock after selling 10,066 shares during the period. Loews accounts for 2.1% of Schwerin Boyle Capital Management Inc.'s portfolio, making the stock its 14th biggest holding. Schwerin Boyle Capital Management Inc. owned about 0.10% of Loews worth $20,147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in L. Hancock Whitney Corp bought a new stake in shares of Loews during the 4th quarter worth about $219,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of Loews by 16.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 69,991 shares of the insurance provider's stock worth $5,928,000 after purchasing an additional 9,950 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of Loews during the fourth quarter worth approximately $270,000. Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of Loews by 3.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock worth $329,000 after purchasing an additional 122 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Loews in the fourth quarter valued at approximately $5,746,000. 58.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Loews Price Performance

Shares of L traded up $0.19 during trading hours on Thursday, hitting $96.56. The stock had a trading volume of 617,565 shares, compared to its average volume of 794,366. The company's fifty day moving average is $92.56 and its two-hundred day moving average is $88.79. 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 $20.03 billion, a price-to-earnings ratio of 15.35 and a beta of 0.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33.

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

Loews Announces Dividend

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