Rothschild Asset Management Inc. purchased a new position in Loews Corporation (NYSE:L) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,460 shares of the insurance provider’s stock, valued at approximately $536,000.
Several other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Loews Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 18,257,124 shares of the insurance provider’s stock worth $853,885,000 after buying an additional 646,147 shares during the last quarter. BlackRock Inc. raised its stake in shares of Loews Corporation by 2,869.0% in the first quarter. BlackRock Inc. now owns 17,358,322 shares of the insurance provider’s stock worth $811,848,000 after buying an additional 16,773,671 shares during the last quarter. State Street Corp raised its stake in shares of Loews Corporation by 1.9% in the first quarter. State Street Corp now owns 13,162,234 shares of the insurance provider’s stock worth $615,592,000 after buying an additional 249,096 shares during the last quarter. Boston Partners raised its stake in shares of Loews Corporation by 5.0% in the first quarter. Boston Partners now owns 8,223,810 shares of the insurance provider’s stock worth $384,628,000 after buying an additional 391,579 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Loews Corporation by 3.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 4,627,523 shares of the insurance provider’s stock worth $216,614,000 after buying an additional 170,355 shares during the last quarter. Institutional investors and hedge funds own 58.85% of the company’s stock.
Shares of Loews Corporation (NYSE:L) opened at 48.27 on Friday. Loews Corporation has a 12-month low of $39.71 and a 12-month high of $49.58. The company’s 50 day moving average price is $47.74 and its 200-day moving average price is $47.08. The firm has a market cap of $16.25 billion, a P/E ratio of 14.26 and a beta of 0.71.
Loews Corporation (NYSE:L) last released its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. The firm had revenue of $3.36 billion for the quarter. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. During the same quarter in the prior year, the business earned $0.59 EPS. On average, equities research analysts anticipate that Loews Corporation will post $3.04 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Wednesday, August 30th will be paid a dividend of $0.0625 per share. The ex-dividend date is Monday, August 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.52%. Loews Corporation’s dividend payout ratio is presently 7.53%.
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L has been the subject of a number of research reports. Zacks Investment Research raised Loews Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub downgraded Loews Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC reaffirmed a “sell” rating and set 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 stock currently has a consensus rating of “Hold” and a consensus target price of $43.33.
About Loews Corporation
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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