Swedbank AB Boosts Holdings in Loews Corporation $L

Key Points

• Swedbank AB increased its holdings in Loews Corporation by 44.8%, acquiring a total of 556,350 shares valued at approximately $51.13 million.
• Loews Corporation reported earnings of $1.87 EPS and revenue of $4.56 billion for the recent quarter, with a net margin of 7.47%.
• The company recently declared a quarterly dividend of $0.0625 per share, representing an annualized dividend of $0.25 and a yield of 0.3%.

Swedbank AB boosted its stake in Loews Corporation (NYSE:L - Free Report) by 44.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 556,350 shares of the insurance provider's stock after purchasing an additional 172,004 shares during the quarter. Swedbank AB owned about 0.27% of Loews worth $51,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Miracle Mile Advisors LLC raised its stake in Loews by 3.5% in the first quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock valued at $354,000 after purchasing an additional 130 shares in the last quarter. Signaturefd LLC raised its stake in Loews by 4.0% in the first quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock valued at $362,000 after purchasing an additional 152 shares in the last quarter. Salvus Wealth Management LLC raised its stake in Loews by 1.4% in the first 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 in the last quarter. Flynn Zito Capital Management LLC raised its stake in Loews by 5.9% in the first 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 stake in Loews by 80.1% in the first quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 209 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Price Performance

L traded up $0.35 on Thursday, reaching $97.14. The company had a trading volume of 295,485 shares, compared to its average volume of 773,708. The business has a 50 day simple moving average of $94.18 and a 200 day simple moving average of $90.02. The company has a market cap of $20.15 billion, a price-to-earnings ratio of 15.45 and a beta of 0.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $98.33.

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

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. Loews's dividend payout ratio (DPR) is 3.97%.

Loews Company 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.