Hosking Partners LLP boosted its stake in Loews Corporation (NYSE:L) by 39.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 232,761 shares of the insurance provider’s stock after buying an additional 66,417 shares during the period. Hosking Partners LLP owned 0.07% of Loews worth $11,645,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of Loews by 3.4% during the third quarter. Legal & General Group Plc now owns 1,542,196 shares of the insurance provider’s stock valued at $73,811,000 after purchasing an additional 50,182 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Loews by 2.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,787,145 shares of the insurance provider’s stock valued at $85,533,000 after purchasing an additional 48,612 shares during the last quarter. Westpac Banking Corp lifted its holdings in shares of Loews by 29.1% during the third quarter. Westpac Banking Corp now owns 21,183 shares of the insurance provider’s stock valued at $1,014,000 after purchasing an additional 4,778 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Loews by 106.5% during the third quarter. Bessemer Group Inc. now owns 125,733 shares of the insurance provider’s stock valued at $6,018,000 after purchasing an additional 64,852 shares during the last quarter. Finally, TD Asset Management Inc. lifted its holdings in shares of Loews by 13.3% during the third quarter. TD Asset Management Inc. now owns 1,876,838 shares of the insurance provider’s stock valued at $89,825,000 after purchasing an additional 220,154 shares during the last quarter. Institutional investors and hedge funds own 59.43% of the company’s stock.
Shares of Loews Corporation (NYSE:L) opened at $48.09 on Wednesday. The firm has a market cap of $15,989.98, a P/E ratio of 13.94 and a beta of 0.71. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.46. Loews Corporation has a 1 year low of $45.01 and a 1 year high of $53.59.
Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 12th. The insurance provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.12. The company had revenue of $3.56 billion during the quarter. Loews had a net margin of 8.47% and a return on equity of 4.10%. Loews’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $0.73 EPS. research analysts forecast that Loews Corporation will post 3.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Wednesday, February 28th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Tuesday, February 27th. Loews’s dividend payout ratio (DPR) is currently 7.25%.
In related news, Director Ann E. Berman sold 1,383 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $50.30, for a total transaction of $69,564.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth I. Siegel sold 1,940 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $49.86, for a total transaction of $96,728.40. Following the sale, the insider now directly owns 11,250 shares of the company’s stock, valued at approximately $560,925. The disclosure for this sale can be found here. Insiders have sold 28,360 shares of company stock valued at $1,400,277 in the last three months. 11.80% of the stock is owned by insiders.
Several research firms have recently issued reports on L. Desjardins lowered shares of 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 shares of 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. Finally, ValuEngine lowered shares of Loews from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Two 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 has an average rating of “Hold” and an average target price of $56.00.
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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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