Strs Ohio Takes $3.17 Million Position in Loews Corporation $L

Key Points

• Strs Ohio has invested approximately $3.17 million in Loews Corporation by acquiring 34,441 shares during the first quarter, representing a new position for the fund.
• Loews Corporation's stock is currently priced at $96.95, with a market capitalization of $20.11 billion and a price-to-earnings ratio of 15.41.
• The company recently announced a quarterly dividend of $0.0625 per share, resulting in an annualized dividend yield of 0.3%.

Strs Ohio bought a new stake in Loews Corporation (NYSE:L - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 34,441 shares of the insurance provider's stock, valued at approximately $3,165,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Focus Partners Wealth grew its holdings in shares of Loews by 45.4% in the first quarter. Focus Partners Wealth now owns 19,068 shares of the insurance provider's stock valued at $1,753,000 after purchasing an additional 5,955 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Loews by 218.1% in the first quarter. Jane Street Group LLC now owns 142,050 shares of the insurance provider's stock valued at $13,056,000 after purchasing an additional 97,391 shares in the last quarter. Advisory Alpha LLC purchased a new position in shares of Loews in the first quarter valued at $284,000. Bayforest Capital Ltd grew its holdings in shares of Loews by 267.2% in the first quarter. Bayforest Capital Ltd now owns 1,241 shares of the insurance provider's stock valued at $114,000 after purchasing an additional 903 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Loews by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,496,606 shares of the insurance provider's stock valued at $137,553,000 after purchasing an additional 73,197 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Price Performance

Shares of L stock traded up $0.33 on Thursday, reaching $97.12. The company's stock had a trading volume of 971,261 shares, compared to its average volume of 777,545. The stock's fifty day simple moving average is $94.18 and its 200-day simple moving average is $90.02. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $98.33. The company has a market capitalization of $20.15 billion, a price-to-earnings ratio of 15.44 and a beta of 0.73. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43.

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

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were given 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 was Wednesday, August 20th. Loews's dividend payout ratio (DPR) is 3.97%.

About Loews

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.