Swiss National Bank Sells 5,000 Shares of Loews Corporation (NYSE:L)

Key Points

• The Swiss National Bank reduced its holdings in Loews Corporation (NYSE:L) by 0.9%, selling 5,000 shares, and now owns 522,061 shares valued at approximately $47.98 million.
• Loews recently reported an earnings per share (EPS) of $1.87 for the quarter along with a revenue of $4.56 billion, reflecting a net margin of 7.47%.
• The company announced a quarterly dividend of $0.0625 per share, to be paid on September 2nd, which represents an annualized dividend yield of 0.3%.

Swiss National Bank reduced its stake in shares of Loews Corporation (NYSE:L - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 522,061 shares of the insurance provider's stock after selling 5,000 shares during the quarter. Swiss National Bank owned 0.25% of Loews worth $47,983,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of L. OneDigital Investment Advisors LLC bought a new stake in Loews in the 1st quarter valued at $224,000. Novem Group bought a new stake in Loews in the 4th quarter valued at $678,000. SG Americas Securities LLC increased its holdings in Loews by 589.9% in the 1st quarter. SG Americas Securities LLC now owns 10,162 shares of the insurance provider's stock valued at $934,000 after buying an additional 8,689 shares during the period. Moody Lynn & Lieberson LLC bought a new stake in Loews in the 1st quarter valued at $329,000. Finally, Penserra Capital Management LLC increased its holdings in Loews by 2,074.6% in the 1st quarter. Penserra Capital Management LLC now owns 10,351 shares of the insurance provider's stock valued at $950,000 after buying an additional 9,875 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

Loews stock traded up $0.10 on Friday, hitting $95.68. The company's stock had a trading volume of 175,062 shares, compared to its average volume of 774,142. The firm has a market cap of $19.85 billion, a P/E ratio of 15.21 and a beta of 0.69. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average price of $91.08 and a 200-day moving average price of $88.11. Loews Corporation has a one year low of $75.16 and a one year high of $96.10.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share 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 Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.