Charles Schwab Investment Management Inc. Sells 2,054 Shares of Loews Corporation $L

Charles Schwab Investment Management Inc. reduced its position in Loews Corporation (NYSE:L) by 0.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,597,165 shares of the insurance provider’s stock after selling 2,054 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Loews were worth $146,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in L. Cetera Investment Advisers grew its stake in shares of Loews by 9.3% during the 1st quarter. Cetera Investment Advisers now owns 4,663 shares of the insurance provider’s stock worth $429,000 after acquiring an additional 398 shares during the period. HB Wealth Management LLC raised its stake in Loews by 6.6% in the 1st quarter. HB Wealth Management LLC now owns 9,428 shares of the insurance provider’s stock valued at $867,000 after acquiring an additional 586 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Loews by 31.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,489 shares of the insurance provider’s stock valued at $4,273,000 after purchasing an additional 11,162 shares during the last quarter. LPL Financial LLC lifted its holdings in Loews by 22.3% during the first quarter. LPL Financial LLC now owns 49,659 shares of the insurance provider’s stock valued at $4,564,000 after purchasing an additional 9,069 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Loews by 122.1% during the first quarter. Mackenzie Financial Corp now owns 64,688 shares of the insurance provider’s stock worth $5,945,000 after purchasing an additional 35,560 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Performance

Shares of L opened at $108.34 on Thursday. Loews Corporation has a 52-week low of $78.98 and a 52-week high of $109.06. The stock’s 50-day simple moving average is $101.44 and its 200 day simple moving average is $95.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market capitalization of $22.39 billion, a price-to-earnings ratio of 17.22 and a beta of 0.73.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The firm had revenue of $3.94 billion for the quarter.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Loews’s dividend payout ratio is 3.62%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Loews presently has a consensus rating of “Strong Buy”.

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.