7,393 Shares in Loews Corporation $L Bought by CenterBook Partners LP

CenterBook Partners LP purchased a new position in shares of Loews Corporation (NYSE:L) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 7,393 shares of the insurance provider’s stock, valued at approximately $772,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Loews in the 2nd quarter valued at approximately $1,621,369,000. Legal & General Group Plc acquired a new stake in Loews in the second quarter valued at approximately $140,248,000. Bank of New York Mellon Corp acquired a new stake in Loews in the second quarter valued at approximately $107,461,000. Bank of America Corp DE bought a new stake in shares of Loews during the second quarter worth $79,560,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Loews during the second quarter worth $71,453,000. 58.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Loews from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, November 3rd. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy”.

Loews Trading Up 0.9%

Shares of L stock opened at $110.97 on Wednesday. The stock has a market cap of $22.44 billion, a price-to-earnings ratio of 15.21 and a beta of 0.49. The stock has a 50-day moving average of $108.69 and a 200-day moving average of $109.61. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews Corporation has a 1-year low of $101.08 and a 1-year high of $121.01.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, November 2nd. The insurance provider reported $1.50 EPS for the quarter. The company had revenue of $4.76 billion for the quarter. Loews had a return on equity of 7.60% and a net margin of 7.93%.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Wednesday, November 25th will be issued a dividend of $0.0625 per share. The ex-dividend date is Wednesday, November 25th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.46%.

Loews Company Profile

Loews Corporation is a diversified holding company with businesses in insurance, energy infrastructure and hospitality. Its subsidiaries operate independently, while Loews provides corporate oversight and capital allocation. CNA Financial provides commercial property and casualty insurance, along with related services, to businesses and organizations. Boardwalk Pipelines operates natural gas pipeline and storage infrastructure, primarily in the United States. Loews Hotels & Co owns and operates hotels and resorts, principally in North America.