UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $137.55 Million 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 lifted its holdings in Loews Corporation (NYSE:L - Free Report) by 5.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,496,606 shares of the insurance provider's stock after purchasing 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.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wayfinding Financial LLC acquired a new position in Loews during the 1st quarter worth approximately $25,000. Sierra Ocean LLC boosted its position in 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 acquiring an additional 274 shares during the last quarter. Elequin Capital LP acquired a new position in Loews during the 1st quarter worth approximately $30,000. Zions Bancorporation National Association UT acquired a new position in Loews during the 1st quarter worth approximately $33,000. Finally, NBC Securities Inc. acquired a new position in Loews during the 1st quarter worth approximately $40,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Up 0.4%

NYSE:L traded up $0.39 during trading hours on Thursday, reaching $97.18. 138,577 shares of the stock were exchanged, compared to its average volume of 772,823. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $98.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a 50 day moving average of $94.18 and a 200 day moving average of $90.02. The stock has a market cap of $20.16 billion, a PE ratio of 15.45 and a beta of 0.73.

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

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews's dividend 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.