UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 207,568 Shares of Loews Co. (NYSE:L)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Loews Co. (NYSE:L) by 17.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,423,409 shares of the insurance provider’s stock after purchasing an additional 207,568 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.65% of Loews worth $120,549,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Loews by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock worth $109,067,000 after purchasing an additional 77,386 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Loews during the fourth quarter worth $440,000. Y Intercept Hong Kong Ltd acquired a new stake in Loews in the fourth quarter valued at $425,000. Steward Partners Investment Advisory LLC grew its position in shares of Loews by 13.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider’s stock valued at $206,000 after acquiring an additional 288 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Loews by 14.8% during the 4th quarter. Prudential Financial Inc. now owns 162,256 shares of the insurance provider’s stock worth $13,741,000 after purchasing an additional 20,874 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

L opened at $87.86 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 12-month low of $73.15 and a 12-month high of $92.42. The business has a 50 day moving average of $87.20 and a 200-day moving average of $85.55. The stock has a market cap of $18.42 billion, a price-to-earnings ratio of 13.73 and a beta of 0.70.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%. The business had revenue of $4.49 billion during the quarter.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, May 28th. Loews’s payout ratio is 4.11%.

Wall Street Analyst Weigh In

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

Insider Activity at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president now owns 33,901 shares of the company’s stock, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the transaction, the director now owns 7,105,529 shares in the company, valued at $604,538,407.32. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,655 shares of company stock worth $13,323,294. Insiders own 18.70% of the company’s stock.

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.