Empirical Finance LLC Grows Stock Holdings in Loews Corporation (NYSE:L)

Empirical Finance LLC grew its holdings in Loews Corporation (NYSE:L) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,846 shares of the insurance provider’s stock after purchasing an additional 278 shares during the quarter. Empirical Finance LLC’s holdings in Loews were worth $629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in shares of Loews during the 1st quarter worth approximately $25,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Loews during the 4th quarter worth approximately $27,000. Sierra Ocean LLC increased its holdings in shares of Loews by 805.9% during the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider’s stock worth $28,000 after buying an additional 274 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of Loews by 387.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider’s stock worth $37,000 after buying an additional 345 shares during the last quarter. Finally, NBC Securities Inc. acquired a new stake in shares of Loews during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Loews Stock Down 1.4%

Loews stock opened at $90.36 on Tuesday. Loews Corporation has a fifty-two week low of $75.16 and a fifty-two week high of $93.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a 50 day moving average price of $89.92 and a 200 day moving average price of $87.43. The company has a market capitalization of $18.95 billion, a PE ratio of 14.84 and a beta of 0.70.

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

Loews Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Richard Waldo Scott sold 9,019 shares of Loews stock in a transaction that occurred on 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 owned 33,901 shares in the company, valued at approximately $2,980,575.92. This trade represents a 21.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.70% of the company’s stock.

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.