Global Financial Private Capital LLC bought a new position in Loews Co. (NYSE:L) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 5,771 shares of the insurance provider’s stock, valued at approximately $289,000.
Several other institutional investors have also recently made changes to their positions in L. Calton & Associates Inc. bought a new position in shares of Loews during the 4th quarter valued at about $137,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Loews during the 4th quarter valued at about $167,000. Saratoga Research & Investment Management bought a new position in shares of Loews during the 3rd quarter valued at about $176,000. Cerebellum GP LLC bought a new position in shares of Loews during the 4th quarter valued at about $196,000. Finally, IBM Retirement Fund bought a new position in shares of Loews during the 3rd quarter valued at about $200,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.
In related news, insider Jonathan M. Tisch sold 7,800 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $47.51, for a total transaction of $370,578.00. Following the transaction, the insider now directly owns 2,990,022 shares in the company, valued at approximately $142,055,945.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kenneth I. Siegel sold 4,907 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $49.69, for a total value of $243,828.83. Following the transaction, the insider now owns 5,625 shares in the company, valued at $279,506.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,360 shares of company stock worth $1,400,277. 11.80% of the stock is owned by corporate insiders.
Loews (NYSE:L) last posted its quarterly earnings results on Monday, February 12th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.12. Loews had a return on equity of 4.08% and a net margin of 8.47%. The business had revenue of $3.56 billion for the quarter. During the same quarter in the previous year, the business earned $0.73 earnings per share. Loews’s revenue was up 6.5% compared to the same quarter last year. analysts predict that Loews Co. will post 3.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Wednesday, February 28th will be given a dividend of $0.0625 per share. The ex-dividend date is Tuesday, February 27th. This represents a $0.25 annualized dividend and a yield of 0.50%. Loews’s payout ratio is 7.25%.
Several equities analysts have recently commented on the company. Desjardins lowered Loews to a “hold” rating and set a $76.00 price objective on the stock. in a research report on Tuesday, January 30th. Zacks Investment Research upgraded Loews from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Friday, January 5th. Finally, ValuEngine lowered Loews from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Loews has a consensus rating of “Hold” and an average price target of $56.00.
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Loews 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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