Lee Danner & Bass Inc. reduced its holdings in Loews Corporation (NYSE:L) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 378,759 shares of the insurance provider’s stock after selling 9,156 shares during the quarter. Loews Corporation accounts for 2.0% of Lee Danner & Bass Inc.’s portfolio, making the stock its 9th largest position. Lee Danner & Bass Inc. owned about 0.11% of Loews Corporation worth $18,127,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Loews Corporation by 2.1% in the second quarter. Vanguard Group Inc. now owns 18,649,024 shares of the insurance provider’s stock worth $872,960,000 after buying an additional 391,900 shares during the period. BlackRock Inc. raised its holdings in shares of Loews Corporation by 1.2% during the second quarter. BlackRock Inc. now owns 17,570,706 shares of the insurance provider’s stock worth $822,484,000 after acquiring an additional 212,384 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Loews Corporation by 3.8% during 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 acquiring an additional 170,355 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Loews Corporation by 13.1% during the second quarter. Wells Fargo & Company MN now owns 4,348,887 shares of the insurance provider’s stock worth $203,570,000 after acquiring an additional 503,117 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Loews Corporation by 11.8% during the second quarter. Northern Trust Corp now owns 3,582,780 shares of the insurance provider’s stock worth $167,709,000 after acquiring an additional 377,248 shares in the last quarter. Hedge funds and other institutional investors own 58.76% of the company’s stock.
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L has been the subject of several recent research reports. Zacks Investment Research lowered Loews Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 14th. BidaskClub upgraded Loews Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, ValuEngine lowered Loews Corporation from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Three 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. Loews Corporation presently has a consensus rating of “Hold” and an average target price of $39.00.
Shares of Loews Corporation (NYSE L) traded down 0.40% during midday trading on Tuesday, hitting $49.26. The stock had a trading volume of 461,990 shares. The firm has a market capitalization of $16.58 billion, a PE ratio of 14.56 and a beta of 0.71. The company’s 50 day moving average price is $48.21 and its 200-day moving average price is $47.45. Loews Corporation has a 1-year low of $40.86 and a 1-year high of $49.58.
Loews Corporation (NYSE:L) last issued its earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.44. The company had revenue of $3.52 billion for the quarter. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. Equities analysts predict that Loews Corporation will post $2.20 earnings per share for the current year.
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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