Earnest Partners LLC purchased a new position in shares of Loews Corporation (NYSE:L) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,465 shares of the insurance provider’s stock, valued at approximately $214,000.
Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Loews by 6.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock worth $105,000 after buying an additional 140 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Loews during the second quarter worth approximately $131,000. D.A. Davidson & CO. grew its position in shares of Loews by 1.0% during the second quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock worth $132,000 after buying an additional 27 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Loews by 25.4% during the second quarter. Parallel Advisors LLC now owns 3,361 shares of the insurance provider’s stock worth $164,000 after buying an additional 680 shares in the last quarter. Finally, Saratoga Research & Investment Management acquired a new stake in shares of Loews during the third quarter worth approximately $176,000. 59.39% of the stock is owned by institutional investors and hedge funds.
In other news, Director Ann E. Berman sold 1,383 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $50.30, for a total transaction of $69,564.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the transaction, the insider now directly owns 2,169,075 shares of the company’s stock, valued at approximately $104,983,230. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,420,223 shares of company stock valued at $68,779,839. Corporate insiders own 11.80% of the company’s stock.
Loews Corporation (NYSE L) traded up $0.27 during trading on Wednesday, reaching $50.32. 1,077,900 shares of the company’s stock were exchanged, compared to its average volume of 860,968. The firm has a market capitalization of $16,848.39, a P/E ratio of 17.38 and a beta of 0.74. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.46. Loews Corporation has a 1 year low of $45.01 and a 1 year high of $51.02.
Loews (NYSE:L) last released its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.44. The firm had revenue of $3.52 billion during the quarter. Loews had a net margin of 7.04% and a return on equity of 4.08%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. research analysts predict that Loews Corporation will post 2.75 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Tuesday, November 28th. Loews’s dividend payout ratio (DPR) is 8.90%.
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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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