Millennium Management LLC Buys 146,695 Shares of Loews Corporation $L

Millennium Management LLC raised its holdings in shares of Loews Corporation (NYSE:L) by 140.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 251,175 shares of the insurance provider’s stock after buying an additional 146,695 shares during the period. Millennium Management LLC owned about 0.12% of Loews worth $23,085,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Miracle Mile Advisors LLC increased its holdings in Loews by 3.5% during 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 last quarter. Signaturefd LLC increased its holdings in Loews by 4.0% during the first quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider’s stock valued at $362,000 after buying an additional 152 shares during the last quarter. Salvus Wealth Management LLC increased its holdings in Loews by 1.4% during the first quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider’s stock valued at $1,089,000 after buying an additional 165 shares during the last quarter. Flynn Zito Capital Management LLC increased its holdings in Loews by 5.9% during the first quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider’s stock valued at $304,000 after buying an additional 183 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in Loews by 80.1% during the first quarter. UMB Bank n.a. now owns 470 shares of the insurance provider’s stock valued at $43,000 after buying an additional 209 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Down 0.3%

Shares of L stock opened at $97.72 on Friday. The company has a 50 day simple moving average of $93.87 and a two-hundred day simple moving average of $89.79. 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 stock has a market cap of $20.27 billion, a P/E ratio of 15.54 and a beta of 0.73. Loews Corporation has a 12 month low of $75.16 and a 12 month high of $98.33.

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

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. 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.