Strs Ohio Makes New $3.17 Million Investment 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) during the 1st quarter, according to the company in its most recent 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.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Loews by 10,114.9% in the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock valued at $61,776,000 after purchasing an additional 665,558 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Loews in the first quarter valued at approximately $34,166,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Loews by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider's stock valued at $120,549,000 after purchasing an additional 207,568 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock valued at $206,709,000 after purchasing an additional 151,428 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Loews by 140.4% in the first quarter. Millennium Management LLC now owns 251,175 shares of the insurance provider's stock valued at $23,085,000 after purchasing an additional 146,695 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Trading Down 0.5%

L stock traded down $0.51 during midday trading on Friday, hitting $96.53. 2,314,098 shares of the company's stock were exchanged, compared to its average volume of 715,779. The business has a 50-day simple moving average of $94.43 and a two-hundred day simple moving average of $90.17. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $20.02 billion, a PE ratio of 15.35 and a beta of 0.73. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $98.33.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. The company 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 declared 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 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.