Loews Co. (NYSE:L) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in shares of Loews Co. (NYSE:L) by 24.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 86,867 shares of the insurance provider’s stock after purchasing an additional 16,983 shares during the period. Intech Investment Management LLC’s holdings in Loews were worth $6,801,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Loews during the fourth quarter worth $511,159,000. Allspring Global Investments Holdings LLC grew its stake in Loews by 1.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock valued at $255,210,000 after acquiring an additional 37,953 shares during the last quarter. Northern Trust Corp increased its holdings in Loews by 11.9% during the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock valued at $174,191,000 after acquiring an additional 266,729 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Loews by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock valued at $110,496,000 after acquiring an additional 21,323 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in Loews by 9.0% during the fourth quarter. Hsbc Holdings PLC now owns 570,748 shares of the insurance provider’s stock worth $39,698,000 after acquiring an additional 46,990 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $77.39, for a total transaction of $3,869,500.00. Following the transaction, the insider now directly owns 607,799 shares of the company’s stock, valued at $47,037,564.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 150,000 shares of company stock worth $11,588,500. 18.70% of the stock is currently owned by insiders.

Loews Price Performance

Loews stock traded down $1.73 during mid-day trading on Friday, hitting $78.06. 621,145 shares of the company were exchanged, compared to its average volume of 647,974. Loews Co. has a 12-month low of $60.87 and a 12-month high of $81.11. The company has a market capitalization of $17.28 billion, a P/E ratio of 11.58 and a beta of 0.83. The business’s 50 day simple moving average is $75.79 and its two-hundred day simple moving average is $75.05. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, May 6th. The insurance provider reported $2.05 EPS for the quarter. The business had revenue of $4.23 billion during the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Wednesday, May 29th. Loews’s dividend payout ratio (DPR) is 3.71%.

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.