Blueshift Asset Management LLC Makes New $471,000 Investment in Loews Corporation (NYSE:L)

Blueshift Asset Management LLC purchased a new position in Loews Corporation (NYSE:L) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,121 shares of the insurance provider’s stock, valued at approximately $471,000.

A number of other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Loews by 10,114.9% during the 1st quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider’s stock worth $61,776,000 after purchasing an additional 665,558 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Loews by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock worth $378,087,000 after buying an additional 210,594 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Loews by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider’s stock worth $120,549,000 after buying an additional 207,568 shares in the last quarter. First Trust Advisors LP raised its position in Loews by 51.2% in the 4th quarter. First Trust Advisors LP now owns 531,038 shares of the insurance provider’s stock valued at $44,974,000 after buying an additional 179,772 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Loews by 63.2% in the 4th quarter. BNP Paribas Financial Markets now owns 384,459 shares of the insurance provider’s stock valued at $32,560,000 after buying an additional 148,890 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Richard Waldo Scott sold 9,019 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the sale, the senior vice president owned 33,901 shares in the company, valued at $2,980,575.92. This represents a 21.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 19.00% of the stock is currently owned by corporate insiders.

Loews Stock Performance

Shares of L opened at $90.20 on Friday. The stock has a market capitalization of $18.91 billion, a price-to-earnings ratio of 14.81 and a beta of 0.70. Loews Corporation has a 12 month low of $75.16 and a 12 month high of $93.23. The firm has a fifty day simple moving average of $90.13 and a 200 day simple moving average of $87.58. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.47.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The company had revenue of $4.49 billion during the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, May 28th. Loews’s dividend payout ratio (DPR) is currently 4.11%.

Analyst Upgrades and Downgrades

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

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.