Trexquant Investment LP purchased a new position in shares of Loews Co. (NYSE:L) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 22,934 shares of the insurance provider’s stock, valued at approximately $1,152,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Braun Bostich & Associates Inc. boosted its holdings in shares of Loews by 1,286.0% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 2,176 shares of the insurance provider’s stock valued at $105,000 after buying an additional 2,019 shares in the last quarter. Whitener Capital Management Inc. acquired a new position in shares of Loews in the 3rd quarter valued at $137,000. Dupont Capital Management Corp boosted its holdings in shares of Loews by 57.9% in the 2nd quarter. Dupont Capital Management Corp now owns 3,042 shares of the insurance provider’s stock valued at $147,000 after buying an additional 1,116 shares in the last quarter. Federated Investors Inc. PA boosted its holdings in shares of Loews by 385.9% in the 2nd quarter. Federated Investors Inc. PA now owns 3,304 shares of the insurance provider’s stock valued at $160,000 after buying an additional 2,624 shares in the last quarter. Finally, Squar Milner Financial Services LLC boosted its holdings in shares of Loews by 121.0% in the 3rd quarter. Squar Milner Financial Services LLC now owns 4,055 shares of the insurance provider’s stock valued at $204,000 after buying an additional 2,220 shares in the last quarter. Institutional investors own 63.08% of the company’s stock.
L has been the subject of several research analyst reports. CIBC restated an “average” rating and issued a $70.00 target price on shares of Loews in a report on Thursday, November 15th. Raymond James restated a “buy” rating and issued a $66.00 target price on shares of Loews in a report on Wednesday, November 14th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $58.45.
Loews (NYSE:L) last released its quarterly earnings results on Monday, November 5th. The insurance provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.10). Loews had a net margin of 8.94% and a return on equity of 4.75%. The business had revenue of $3.61 billion during the quarter. During the same period last year, the business posted $0.53 EPS. Loews’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Loews Co. will post 3.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Wednesday, November 28th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.52%. Loews’s dividend payout ratio (DPR) is 8.74%.
In related news, Director Ann E. Berman sold 2,216 shares of the company’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $49.27, for a total value of $109,182.32. Following the completion of the sale, the director now owns 1,500 shares in the company, valued at approximately $73,905. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.30% of the stock is owned by corporate insiders.
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States, Canada, the United Kingdom, Continental Europe, and Singapore. The company offers management and professional liability insurance and risk management services, and other specialized property and casualty coverages; commercial surety and fidelity bonds; and warranty and alternative risk services primarily for vehicles and cell phones.
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