The Manufacturers Life Insurance Company Trims Stock Holdings in Loews Corporation $L

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Loews Corporation by 23.1%, now owning 221,593 shares worth approximately $20.37 million.
• Loews reported quarterly earnings of $1.87 per share with a revenue of $4.56 billion, alongside a net margin of 7.47% and return on equity of 7.43%.
• The company declared a quarterly dividend of $0.0625 per share, equating to an annualized dividend yield of 0.3% with a payout ratio of 3.97%.

The Manufacturers Life Insurance Company reduced its position in Loews Corporation (NYSE:L - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,593 shares of the insurance provider's stock after selling 66,727 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.11% of Loews worth $20,367,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of L. GAMMA Investing LLC grew its position in Loews by 10,114.9% in the 1st quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock valued at $61,776,000 after acquiring an additional 665,558 shares in the last quarter. Nuveen LLC acquired a new position in Loews in the 1st quarter valued at about $34,166,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Loews by 17.1% in the 4th 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 acquiring an additional 207,568 shares in the last quarter. Northern Trust Corp grew its position in Loews by 7.2% in the 1st quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock valued at $206,709,000 after acquiring an additional 151,428 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Loews by 63.2% in the 4th quarter. BNP Paribas Financial Markets now owns 384,459 shares of the insurance provider's stock valued at $32,560,000 after buying an additional 148,890 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Down 1.0%

Shares of L traded down $0.97 during midday trading on Friday, hitting $96.56. The company had a trading volume of 770,458 shares, compared to its average volume of 702,206. The company's 50-day simple moving average is $93.39 and its 200-day simple moving average is $89.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $20.03 billion, a P/E 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 $97.77.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. The business 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.3%. Loews's payout ratio is presently 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.