Thrivent Financial For Lutherans lowered its stake in Loews Co. (NYSE:L) by 21.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 357,353 shares of the insurance provider’s stock after selling 97,980 shares during the period. Thrivent Financial For Lutherans’ holdings in Loews were worth $17,879,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its stake in Loews by 4.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,894 shares of the insurance provider’s stock worth $229,000 after buying an additional 189 shares during the period. First Republic Investment Management Inc. raised its stake in Loews by 6.3% during the 4th quarter. First Republic Investment Management Inc. now owns 18,193 shares of the insurance provider’s stock worth $911,000 after buying an additional 1,080 shares during the period. Mutual of America Capital Management LLC raised its stake in Loews by 3.3% during the 4th quarter. Mutual of America Capital Management LLC now owns 34,341 shares of the insurance provider’s stock worth $1,718,000 after buying an additional 1,093 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Loews by 3.7% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 38,272 shares of the insurance provider’s stock worth $1,832,000 after buying an additional 1,378 shares during the period. Finally, Norinchukin Bank The raised its stake in Loews by 12.7% during the 3rd quarter. Norinchukin Bank The now owns 12,284 shares of the insurance provider’s stock worth $588,000 after buying an additional 1,380 shares during the period. 61.38% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on L. Desjardins cut Loews to a “hold” rating and set a $76.00 target price for the company. in a report on Tuesday, January 30th. Zacks Investment Research upgraded Loews from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Friday, January 5th. Two 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. Loews has an average rating of “Hold” and an average target price of $56.00.
Loews (NYSE:L) last released its earnings results on Monday, February 12th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.12. The firm had revenue of $3.56 billion during the quarter. Loews had a return on equity of 4.08% and a net margin of 8.47%. Loews’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $0.73 EPS. equities analysts forecast that Loews Co. will post 3.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Tuesday, February 27th. Loews’s dividend payout ratio (DPR) is presently 7.25%.
In other news, insider Jonathan M. Tisch sold 7,800 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $47.51, for a total value of $370,578.00. Following the completion of the transaction, the insider now owns 2,990,022 shares in the company, valued at approximately $142,055,945.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth I. Siegel sold 6,242 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $50.23, for a total value of $313,535.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,256 shares of company stock valued at $794,383. Corporate insiders own 11.80% of the company’s stock.
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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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