Conning Inc. acquired a new stake in Loews Corp. (NYSE:L) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,749 shares of the company’s stock, valued at approximately $236,000.
A number of other hedge funds have also recently made changes to their positions in the company. Pineno Levin & Ford Asset Management Inc. boosted its stake in shares of Loews Corp. by 0.3% in the second quarter. Pineno Levin & Ford Asset Management Inc. now owns 79,617 shares of the company’s stock worth $3,271,000 after buying an additional 250 shares during the period. Windsor Financial Group LLC boosted its stake in shares of Loews Corp. by 0.4% in the second quarter. Windsor Financial Group LLC now owns 109,099 shares of the company’s stock worth $4,483,000 after buying an additional 475 shares during the period. DNB Asset Management AS boosted its stake in shares of Loews Corp. by 2.4% in the second quarter. DNB Asset Management AS now owns 29,393 shares of the company’s stock worth $1,208,000 after buying an additional 700 shares during the period. Aviva PLC boosted its stake in shares of Loews Corp. by 0.3% in the first quarter. Aviva PLC now owns 335,468 shares of the company’s stock worth $12,835,000 after buying an additional 1,013 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Loews Corp. by 5.5% in the first quarter. Envestnet Asset Management Inc. now owns 20,347 shares of the company’s stock worth $778,000 after buying an additional 1,055 shares during the period. 56.99% of the stock is owned by hedge funds and other institutional investors.
Loews Corp. (NYSE:L) traded down 0.24% during mid-day trading on Thursday, reaching $41.16. The company had a trading volume of 966,938 shares. Loews Corp. has a one year low of $33.84 and a one year high of $42.07. The firm has a market capitalization of $13.88 billion, a P/E ratio of 791.54 and a beta of 0.86. The firm’s 50-day moving average is $41.14 and its 200-day moving average is $40.29.
Loews Corp. (NYSE:L) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by $0.82. Loews Corp. had a net margin of 0.14% and a return on equity of 2.77%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the business posted $0.59 earnings per share. On average, equities research analysts anticipate that Loews Corp. will post $2.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Monday, August 29th. Loews Corp.’s payout ratio is 833.33%.
A number of analysts have recently commented on the company. TheStreet cut Loews Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Zacks Investment Research raised Loews Corp. from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Tuesday.
About Loews Corp.
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 gathering and processing of natural gas, and operation of a chain of hotels.
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