Nisa Investment Advisors LLC decreased its position in Loews Corporation (NYSE:L) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,777 shares of the insurance provider’s stock after selling 50 shares during the period. Nisa Investment Advisors LLC’s holdings in Loews Corporation were worth $4,021,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in Loews Corporation by 52.2% in the first quarter. Bank of Montreal Can now owns 114,588 shares of the insurance provider’s stock valued at $5,359,000 after buying an additional 39,320 shares in the last quarter. Legacy Private Trust Co. increased its position in Loews Corporation by 4.6% in the first quarter. Legacy Private Trust Co. now owns 16,090 shares of the insurance provider’s stock valued at $753,000 after buying an additional 710 shares in the last quarter. National Pension Service increased its position in Loews Corporation by 1.2% in the first quarter. National Pension Service now owns 264,414 shares of the insurance provider’s stock valued at $12,390,000 after buying an additional 3,138 shares in the last quarter. Gulf International Bank UK Ltd increased its position in Loews Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 87,107 shares of the insurance provider’s stock valued at $4,073,000 after buying an additional 1,020 shares in the last quarter. Finally, Creative Planning increased its position in Loews Corporation by 3.7% in the first quarter. Creative Planning now owns 5,672 shares of the insurance provider’s stock valued at $265,000 after buying an additional 205 shares in the last quarter. Institutional investors own 58.85% of the company’s stock.
Shares of Loews Corporation (NYSE:L) opened at 48.27 on Friday. The stock has a 50 day moving average of $47.74 and a 200-day moving average of $47.08. Loews Corporation has a one year low of $39.71 and a one year high of $49.58. The stock has a market capitalization of $16.25 billion, a PE ratio of 14.26 and a beta of 0.71.
Loews Corporation (NYSE:L) last announced its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. The company had revenue of $3.36 billion during the quarter. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. During the same period in the prior year, the business earned $0.59 earnings per share. Equities analysts predict that Loews Corporation will post $3.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, August 28th. Loews Corporation’s dividend payout ratio (DPR) is presently 7.53%.
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Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of Loews Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC reaffirmed a “sell” rating and issued a $35.00 target price on shares of Loews Corporation in a report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $43.33.
Loews Corporation Company Profile
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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