Securian Asset Management Inc. Sells 300 Shares of Loews Corporation $L

Securian Asset Management Inc. reduced its holdings in Loews Corporation (NYSE:L) by 3.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 9,005 shares of the insurance provider’s stock after selling 300 shares during the quarter. Securian Asset Management Inc.’s holdings in Loews were worth $825,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in L. Wayfinding Financial LLC bought a new stake in shares of Loews in the 1st quarter worth approximately $25,000. Sierra Ocean LLC grew its position in shares of Loews by 805.9% in 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. Elequin Capital LP bought a new stake in shares of Loews in the 1st quarter worth approximately $30,000. Zions Bancorporation National Association UT bought a new stake in shares of Loews in the 1st quarter worth approximately $33,000. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of Loews in the 2nd quarter worth approximately $60,000. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b+)” rating on shares of Loews in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Loews presently has an average rating of “Buy”.

Loews Trading Down 0.1%

L opened at $99.92 on Friday. The stock has a market cap of $20.73 billion, a PE ratio of 15.89 and a beta of 0.73. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $98.32 and a 200-day moving average of $92.30. Loews Corporation has a 52 week low of $75.16 and a 52 week high of $103.52.

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

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.3%. Loews’s payout ratio is presently 3.97%.

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.