Stratos Wealth Partners LTD. raised its position in Loews Corporation (NYSE:L) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,820 shares of the insurance provider’s stock after buying an additional 600 shares during the period. Stratos Wealth Partners LTD.’s holdings in Loews Corporation were worth $1,068,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Teachers Advisors LLC raised its stake in shares of Loews Corporation by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 378,606 shares of the insurance provider’s stock worth $17,730,000 after buying an additional 15,961 shares during the last quarter. Kentucky Retirement Systems purchased a new position in shares of Loews Corporation during the fourth quarter valued at approximately $939,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Loews Corporation during the fourth quarter valued at approximately $419,000. Macquarie Group Ltd. increased its position in shares of Loews Corporation by 34.0% in the fourth quarter. Macquarie Group Ltd. now owns 20,900 shares of the insurance provider’s stock valued at $979,000 after buying an additional 5,300 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Loews Corporation by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 245,761 shares of the insurance provider’s stock valued at $11,495,000 after buying an additional 7,075 shares during the last quarter. Hedge funds and other institutional investors own 58.80% of the company’s stock.
Shares of Loews Corporation (L) traded down 0.14% on Tuesday, reaching $48.37. 353,821 shares of the company’s stock were exchanged. The company’s 50 day moving average is $47.80 and its 200-day moving average is $47.09. Loews Corporation has a one year low of $39.71 and a one year high of $49.58. The stock has a market cap of $16.28 billion, a price-to-earnings ratio of 14.29 and a beta of 0.71.
Loews Corporation (NYSE:L) last released its earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. The business had revenue of $3.36 billion during the quarter. During the same quarter last year, the business posted $0.59 earnings per share. On average, analysts anticipate that Loews Corporation will post $3.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th will be given a dividend of $0.0625 per share. The ex-dividend date is Monday, August 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.52%. Loews Corporation’s dividend payout ratio (DPR) is 7.53%.
Several research analysts recently commented on L shares. Jefferies Group LLC reaffirmed a “sell” rating and issued a $35.00 target price on shares of Loews Corporation in a research note on Tuesday, June 6th. BidaskClub raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research downgraded shares of Loews Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target 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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