Caisse DE Depot ET Placement DU Quebec Trims Position in Loews Corporation $L

Caisse DE Depot ET Placement DU Quebec cut its position in Loews Corporation (NYSE:L) by 78.7% in the first quarter, HoldingsChannel.com reports. The firm owned 46,161 shares of the insurance provider’s stock after selling 170,629 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Loews were worth $4,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in shares of Loews in the first quarter worth $25,000. Sierra Ocean LLC increased its stake in shares of Loews by 805.9% in the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of Loews in the fourth quarter worth $27,000. Elequin Capital LP purchased a new stake in shares of Loews in the first quarter worth $30,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Loews in the first quarter worth $33,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Performance

L opened at $96.56 on Friday. The stock has a market capitalization of $20.03 billion, a price-to-earnings ratio of 15.35 and a beta of 0.69. The company has a fifty day moving average of $92.56 and a 200 day moving average of $88.79. Loews Corporation has a fifty-two week low of $75.16 and a fifty-two week high of $97.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33.

Loews (NYSE:L) last posted its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The company had revenue of $4.56 billion during the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.3%. Loews’s dividend payout ratio (DPR) is 3.97%.

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.

About Loews

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.