UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $137.55 Million Stock Holdings in Loews Corporation $L

Key Points

• UBS Asset Management increased its stake in Loews Corporation by 5.1%, acquiring an additional 73,197 shares, bringing their total ownership to approximately 1.5 million shares valued at $137.55 million.
• Loews Corporation reported earnings of $1.87 per share for the last quarter, achieving a net margin of 7.47% and revenue of $4.56 billion.
• The company announced a quarterly dividend of $0.0625, translating to an annualized yield of 0.3% with a dividend payout ratio of 3.97%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Loews Corporation (NYSE:L - Free Report) by 5.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,496,606 shares of the insurance provider's stock after acquiring an additional 73,197 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.71% of Loews worth $137,553,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wayfinding Financial LLC acquired a new position in shares of Loews during the 1st quarter worth $25,000. Sierra Ocean LLC raised its holdings in shares of Loews by 805.9% during the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock worth $28,000 after buying an additional 274 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Loews during the 1st quarter worth $30,000. Zions Bancorporation National Association UT acquired a new position in shares of Loews during the 1st quarter worth $33,000. Finally, NBC Securities Inc. acquired a new position in shares of Loews during the 1st quarter worth $40,000. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Price Performance

Shares of Loews stock traded down $0.70 during trading on Monday, reaching $96.95. 635,511 shares of the company's stock were exchanged, compared to its average volume of 719,246. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $98.33. The firm's 50-day moving average price is $93.98 and its 200 day moving average price is $89.93. 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 company has a market cap of $20.11 billion, a P/E ratio of 15.41 and a beta of 0.73.

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

Loews Dividend Announcement

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