Candriam Luxembourg S.C.A. boosted its position in Loews Corp. (NYSE:L) by 25.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,750 shares of the company’s stock after buying an additional 4,459 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Loews Corp. were worth $894,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Retirement Systems of Alabama boosted its stake in shares of Loews Corp. by 43.3% in the second quarter. Retirement Systems of Alabama now owns 377,524 shares of the company’s stock worth $15,512,000 after buying an additional 114,038 shares during the last quarter. Conning Inc. purchased a new stake in shares of Loews Corp. during the second quarter worth about $236,000. Bank of Montreal Can purchased a new stake in shares of Loews Corp. during the second quarter worth about $3,035,000. Financial Architects Inc boosted its stake in shares of Loews Corp. by 119.3% in the second quarter. Financial Architects Inc now owns 2,621 shares of the company’s stock worth $108,000 after buying an additional 1,426 shares during the last quarter. Finally, Shell Asset Management Co. boosted its stake in shares of Loews Corp. by 74.8% in the second quarter. Shell Asset Management Co. now owns 25,496 shares of the company’s stock worth $1,048,000 after buying an additional 10,910 shares during the last quarter. Institutional investors and hedge funds own 56.99% of the company’s stock.
Loews Corp. (NYSE:L) traded up 0.32% during trading on Friday, reaching $41.29. The company’s stock had a trading volume of 869,933 shares. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of 794.04 and a beta of 0.86. Loews Corp. has a 52-week low of $33.84 and a 52-week high of $42.07. The stock’s 50-day moving average is $41.13 and its 200 day moving average is $40.30.
Loews Corp. (NYSE:L) last released its quarterly earnings results on Monday, August 1st. The company reported ($0.19) earnings per share 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 company earned $2.35 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business earned $0.59 EPS. On average, analysts predict that Loews Corp. will post $2.50 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Wednesday, August 31st were given a $0.0625 dividend. The ex-dividend date was Monday, August 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.61%. Loews Corp.’s dividend payout ratio (DPR) is 833.33%.
A number of brokerages have recently issued reports on L. Zacks Investment Research upgraded Loews Corp. from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday. TheStreet cut Loews Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st.
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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