BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Loews Co. (NYSE:L) by 47.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,279 shares of the insurance provider’s stock after acquiring an additional 86,822 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Loews were worth $13,472,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. grew its position in Loews by 0.5% in the 4th quarter. BlackRock Inc. now owns 17,733,302 shares of the insurance provider’s stock worth $887,195,000 after purchasing an additional 82,323 shares during the period. Boston Partners grew its position in Loews by 1.7% in the 4th quarter. Boston Partners now owns 8,045,473 shares of the insurance provider’s stock worth $402,515,000 after purchasing an additional 131,148 shares during the period. Wells Fargo & Company MN grew its position in Loews by 7.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,393,471 shares of the insurance provider’s stock worth $269,835,000 after purchasing an additional 355,183 shares during the period. Geode Capital Management LLC grew its position in Loews by 10.2% in the 4th quarter. Geode Capital Management LLC now owns 3,201,581 shares of the insurance provider’s stock worth $159,855,000 after purchasing an additional 295,475 shares during the period. Finally, Marathon Asset Management LLP grew its position in Loews by 1.7% in the 4th quarter. Marathon Asset Management LLP now owns 2,082,148 shares of the insurance provider’s stock worth $104,170,000 after purchasing an additional 34,263 shares during the period. 64.34% of the stock is owned by institutional investors.
A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Friday, January 5th. Desjardins downgraded shares of Loews to a “hold” rating and set a $76.00 target price for the company. in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Loews has an average rating of “Hold” and a consensus price target of $56.00.
Shares of Loews Co. (NYSE L) opened at $49.07 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 1 year low of $45.01 and a 1 year high of $53.59. The company has a market cap of $16,135.44, a P/E ratio of 14.22 and a beta of 0.72.
Loews (NYSE:L) last posted its earnings results on Monday, February 12th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The business had revenue of $3.56 billion during the quarter. Loews had a net margin of 8.47% and a return on equity of 4.08%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. equities analysts expect that Loews Co. will post 3.5 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, February 27th. Loews’s dividend payout ratio is presently 7.25%.
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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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