5,647 Shares in Loews Corporation $L Purchased by United Services Automobile Association

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 bought a new position in Loews Corporation (NYSE:L - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,647 shares of the insurance provider's stock, valued at approximately $512,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wayfinding Financial LLC acquired a new stake in Loews during the 1st quarter worth $25,000. Minot DeBlois Advisors LLC bought a new position in shares of Loews in the 4th quarter worth $27,000. Sierra Ocean LLC grew its stake in shares of Loews by 805.9% during the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock worth $28,000 after purchasing an additional 274 shares during the period. Elequin Capital LP acquired a new stake in shares of Loews during the first quarter worth $30,000. Finally, Zions Bancorporation National Association UT bought a new stake in Loews in the first quarter valued at about $33,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Trading Down 0.3%

L traded down $0.33 during midday trading on Friday, reaching $97.72. 770,613 shares of the company were exchanged, compared to its average volume of 728,083. 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 stock has a market capitalization of $20.27 billion, a P/E ratio of 15.54 and a beta of 0.73. The stock's 50-day simple moving average is $93.87 and its 200 day simple moving average is $89.83. Loews Corporation has a one year low of $75.16 and a one year high of $98.33.

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

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were paid 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 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.