Mraz Amerine & Associates Inc. raised its position in shares of Loews Corporation (NYSE:L) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 309,019 shares of the insurance provider’s stock after buying an additional 9,450 shares during the period. Loews Corporation comprises approximately 4.5% of Mraz Amerine & Associates Inc.’s holdings, making the stock its 6th largest position. Mraz Amerine & Associates Inc. owned approximately 0.09% of Loews Corporation worth $14,465,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC boosted its stake in Loews Corporation by 285.2% in the first quarter. Parallel Advisors LLC now owns 2,681 shares of the insurance provider’s stock worth $126,000 after buying an additional 1,985 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Loews Corporation during the first quarter worth about $175,000. Cedar Wealth Management LLC boosted its stake in Loews Corporation by 5.0% in the first quarter. Cedar Wealth Management LLC now owns 4,010 shares of the insurance provider’s stock worth $188,000 after buying an additional 190 shares during the last quarter. Advisors Preferred LLC purchased a new stake in Loews Corporation during the first quarter worth about $210,000. Finally, Princeton Alpha Management LP purchased a new stake in Loews Corporation during the first quarter worth about $212,000. Institutional investors and hedge funds own 58.85% of the company’s stock.
Shares of Loews Corporation (NYSE:L) traded down 0.525% during mid-day trading on Friday, hitting $48.325. The company’s stock had a trading volume of 220,285 shares. Loews Corporation has a 1-year low of $39.71 and a 1-year high of $49.58. The stock has a market cap of $16.27 billion, a PE ratio of 14.280 and a beta of 0.71. The company has a 50-day moving average price of $47.69 and a 200-day moving average price of $47.07.
Loews Corporation (NYSE:L) last posted its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.76 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.76. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. The company had revenue of $3.36 billion during the quarter. During the same quarter in the prior year, the company earned $0.59 earnings per share. Analysts predict that Loews Corporation will post $3.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.51%. Loews Corporation’s dividend payout ratio is 7.53%.
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L has been the subject of a number of research reports. Zacks Investment Research cut Loews Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. BidaskClub cut Loews Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Jefferies Group LLC reaffirmed a “sell” rating and issued a $35.00 price target on shares of Loews Corporation in a research 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 issued a buy rating to the company’s stock. The company presently has an average 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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