Loews Corporation (NYSE:L) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can decreased its stake in shares of Loews Corporation (NYSE:L) by 6.6% during the second quarter, Holdings Channel reports. The institutional investor owned 215,400 shares of the insurance provider’s stock after selling 15,323 shares during the period. Great West Life Assurance Co. Can’s holdings in Loews Corporation were worth $10,072,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Parallel Advisors LLC increased 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 valued at $126,000 after buying an additional 1,985 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Loews Corporation during the first quarter valued at $175,000. Cedar Wealth Management LLC increased 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 valued at $188,000 after buying an additional 190 shares in the last quarter. Advisors Preferred LLC bought a new stake in Loews Corporation during the first quarter valued at $210,000. Finally, Princeton Alpha Management LP bought a new stake in Loews Corporation during the first quarter valued at $212,000. 58.85% of the stock is owned by hedge funds and other institutional investors.

Loews Corporation (NYSE:L) opened at 48.58 on Friday. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 14.36 and a beta of 0.71. The company’s 50-day moving average is $47.69 and its 200 day moving average is $47.07. Loews Corporation has a one year low of $39.71 and a one year high of $49.58.

Loews Corporation (NYSE:L) last released its earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.76. The company had revenue of $3.36 billion for the quarter. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. During the same quarter last year, the company earned $0.59 earnings per share. Equities analysts expect 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. Shareholders of record on Wednesday, August 30th will be issued 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 yield of 0.51%. Loews Corporation’s dividend payout ratio (DPR) is presently 7.53%.

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Several brokerages recently issued reports on L. BidaskClub lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reissued a “sell” rating and set a $35.00 price objective on shares of Loews Corporation in a report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Loews Corporation has a consensus rating of “Hold” and an average target price of $43.33.

Loews Corporation Company Profile

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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Institutional Ownership by Quarter for Loews Corporation (NYSE:L)

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