Loews Corporation $L Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in shares of Loews Corporation (NYSE:L) by 23.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,204 shares of the insurance provider’s stock after selling 11,760 shares during the period. Intech Investment Management LLC’s holdings in Loews were worth $3,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Wayfinding Financial LLC purchased a new stake in Loews in the 1st quarter valued at about $25,000. Sierra Ocean LLC raised its position in Loews by 805.9% in the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 274 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of Loews during the 1st quarter worth $30,000. Zions Bancorporation National Association UT purchased a new stake in Loews during the first quarter worth approximately $33,000. Finally, NBC Securities Inc. acquired a new stake in Loews during the 1st quarter worth $40,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

L stock opened at $97.72 on Friday. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $98.33. The company has a market capitalization of $20.27 billion, a P/E ratio of 15.54 and a beta of 0.73. The business has a 50 day simple moving average of $93.87 and a 200-day simple moving average of $89.83. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43.

Loews (NYSE:L) last issued its quarterly earnings results 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 for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews’s dividend payout ratio (DPR) is presently 3.97%.

Loews 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.