UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $136.37 Million Stock Holdings in Loews Corporation $L

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Loews Corporation (NYSE:L) by 3.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,204,563 shares of the insurance provider’s stock after selling 45,128 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Loews were worth $136,369,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Washington Trust Bank bought a new position in shares of Loews in the second quarter valued at approximately $204,000. New Mexico Educational Retirement Board raised its position in shares of Loews by 7.7% during the second quarter. New Mexico Educational Retirement Board now owns 8,395 shares of the insurance provider’s stock worth $950,000 after acquiring an additional 600 shares during the last quarter. Mufg Securities Americas Inc. lifted its position in Loews by 8.7% during the 2nd quarter. Mufg Securities Americas Inc. now owns 5,082 shares of the insurance provider’s stock valued at $575,000 after purchasing an additional 407 shares during the period. Ferguson Wellman Capital Management Inc. acquired a new position in Loews in the second quarter valued at approximately $439,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Loews by 7.6% in the 2nd quarter. Hsbc Holdings PLC now owns 630,332 shares of the insurance provider’s stock valued at $71,453,000 after purchasing an additional 44,772 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Performance

Shares of L stock opened at $108.59 on Wednesday. Loews Corporation has a 12 month low of $95.10 and a 12 month high of $121.01. The company’s fifty day simple moving average is $113.97 and its 200-day simple moving average is $110.21. The firm has a market cap of $22.20 billion, a PE ratio of 13.31 and a beta of 0.51. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44.

Loews (NYSE:L) last released its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%. The business had revenue of $4.73 billion during the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.06%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has an average rating of “Strong Buy”.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.