United Services Automobile Association Buys New Position in Loews Corporation $L

Key Points

• United Services Automobile Association acquired a $512,000 stake in Loews Corporation by purchasing 5,647 shares in the first quarter.
• Loews Corporation's recent earnings report revealed an EPS of $1.87 and a revenue of $4.56 billion for the quarter.
• The company declared a quarterly dividend of $0.0625, resulting in an annualized dividend yield of 0.3%.

United Services Automobile Association acquired a new stake in Loews Corporation (NYSE:L - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,647 shares of the insurance provider's stock, valued at approximately $512,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Miracle Mile Advisors LLC raised its holdings in shares of Loews by 3.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock valued at $354,000 after buying an additional 130 shares during the period. Signaturefd LLC increased its holdings in Loews by 4.0% during the 1st quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock worth $362,000 after purchasing an additional 152 shares during the period. Salvus Wealth Management LLC increased its holdings in Loews by 1.4% during the 1st quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock worth $1,089,000 after purchasing an additional 165 shares during the period. Flynn Zito Capital Management LLC increased its holdings in Loews by 5.9% during the 1st quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider's stock worth $304,000 after purchasing an additional 183 shares during the period. Finally, UMB Bank n.a. increased its holdings in Loews by 80.1% during the 1st quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock worth $43,000 after purchasing an additional 209 shares during the period. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Down 1.0%

NYSE L traded down $0.93 during trading hours on Tuesday, hitting $95.99. 132,071 shares of the company were exchanged, compared to its average volume of 772,259. The company has a 50 day moving average of $93.98 and a two-hundred day moving average of $89.93. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $98.33. The firm has a market cap of $19.91 billion, a price-to-earnings ratio of 15.26 and a beta of 0.73.

Loews (NYSE:L - Get Free Report) last issued 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 company had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.0625 per share. 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 currently 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.