Loews Corporation $L Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its position in Loews Corporation (NYSE:L) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,249 shares of the insurance provider’s stock after buying an additional 6,660 shares during the quarter. American Century Companies Inc.’s holdings in Loews were worth $8,846,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Miracle Mile Advisors LLC lifted its holdings in shares of Loews by 3.5% in the first 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 raised its position in shares of Loews by 4.0% during the first 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 raised its position in shares of Loews by 1.4% during the first 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 raised its position in shares of Loews by 5.9% during the first 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. raised its position in shares of Loews by 80.1% during the first 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. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Loews from a “hold” rating to a “buy” rating in a research report on Tuesday, May 6th.

Loews Stock Up 0.2%

NYSE:L opened at $95.79 on Wednesday. The firm has a market capitalization of $19.87 billion, a price-to-earnings ratio of 15.23 and a beta of 0.69. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $97.41. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average price is $92.23 and its 200 day moving average price is $88.67.

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

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is 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.