Sunbelt Securities Inc. held its stake in Loews Co. (NYSE:L) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,600 shares of the insurance provider’s stock at the end of the second quarter. Sunbelt Securities Inc.’s holdings in Loews were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Loews by 6.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 140 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Loews 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 purchasing an additional 1,985 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in Loews in the second quarter valued at approximately $131,000. D.A. Davidson & CO. boosted its holdings in Loews by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 27 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Loews in the first quarter valued at approximately $175,000. 58.59% of the stock is owned by hedge funds and other institutional investors.
Loews Co. (L) traded up 0.21% during midday trading on Thursday, hitting $48.80. The stock had a trading volume of 314,975 shares. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 14.42 and a beta of 0.71. The company has a 50-day moving average price of $47.46 and a 200-day moving average price of $47.27. Loews Co. has a 12-month low of $40.73 and a 12-month high of $49.58.
Loews (NYSE:L) last issued its earnings results on Monday, July 31st. The insurance provider reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. The company had revenue of $3.36 billion during the quarter. Loews had a return on equity of 4.97% and a net margin of 8.27%. During the same quarter in the previous year, the business posted $0.59 EPS. Equities analysts anticipate that Loews Co. will post $3.05 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th were given a $0.0625 dividend. The ex-dividend date of this dividend was Monday, August 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.51%. Loews’s payout ratio is 7.53%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research downgraded Loews from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. BidaskClub downgraded Loews from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. Loews has a consensus rating of “Hold” and an average target price of $39.00.
Loews 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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