Loews Corporation (NYSE:L) Stock Position Lowered by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its position in Loews Corporation (NYSE:L) by 15.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,370 shares of the insurance provider’s stock after selling 1,541 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Loews were worth $769,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC purchased a new stake in Loews in the 1st quarter worth approximately $25,000. Minot DeBlois Advisors LLC purchased a new stake in Loews in the 4th quarter worth approximately $27,000. Sierra Ocean LLC lifted its position in Loews by 805.9% in the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider’s stock worth $28,000 after buying an additional 274 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in Loews by 387.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider’s stock worth $37,000 after buying an additional 345 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in Loews in the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Loews Stock Up 0.7%

Loews stock opened at $94.35 on Wednesday. The company has a market capitalization of $19.57 billion, a P/E ratio of 15.00 and a beta of 0.69. The firm’s fifty day simple moving average is $90.79 and its 200-day simple moving average is $87.99. 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 Corporation has a 1-year low of $75.16 and a 1-year high of $94.62.

Loews (NYSE:L) last released its quarterly earnings results 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.0625 per share. The ex-dividend date is 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 (DPR) 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.