Ontario Teachers Pension Plan Board reduced its stake in Loews Co. (NYSE:L) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,756 shares of the insurance provider’s stock after selling 1,397 shares during the quarter. Ontario Teachers Pension Plan Board owned about 0.06% of Loews worth $9,694,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in Loews by 15.9% during the third quarter. Wells Fargo & Company MN now owns 5,038,288 shares of the insurance provider’s stock worth $241,132,000 after buying an additional 689,401 shares during the period. St. James Investment Company LLC purchased a new position in Loews during the third quarter worth about $29,452,000. PGGM Investments lifted its position in Loews by 49.0% during the fourth quarter. PGGM Investments now owns 1,009,500 shares of the insurance provider’s stock worth $50,505,000 after buying an additional 331,850 shares during the period. Systematic Financial Management LP purchased a new position in Loews during the fourth quarter worth about $16,398,000. Finally, TD Asset Management Inc. lifted its position in Loews by 13.3% during the third quarter. TD Asset Management Inc. now owns 1,876,838 shares of the insurance provider’s stock worth $89,825,000 after buying an additional 220,154 shares during the period. Institutional investors and hedge funds own 59.82% of the company’s stock.
Loews Co. (L) opened at $49.89 on Wednesday. The company has a market capitalization of $16,467.57, a PE ratio of 14.46 and a beta of 0.71. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.46. Loews Co. has a twelve month low of $45.01 and a twelve month high of $53.59.
Loews (NYSE:L) last released its quarterly earnings data 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 company had revenue of $3.56 billion for the quarter. Loews had a return on equity of 4.08% and a net margin of 8.47%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 earnings per share. equities research analysts anticipate that Loews Co. will post 3.5 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Wednesday, February 28th will be issued a $0.0625 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.50%. Loews’s dividend payout ratio (DPR) is 7.25%.
In other news, VP Mark S. Schwartz sold 6,489 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $50.25, for a total value of $326,072.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Tisch sold 7,800 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $47.51, for a total value of $370,578.00. Following the completion of the sale, the insider now owns 2,990,022 shares of the company’s stock, valued at approximately $142,055,945.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,360 shares of company stock worth $1,400,277. Company insiders own 11.80% of the company’s stock.
Several research firms recently weighed in on L. Desjardins downgraded Loews to a “hold” rating and set a $76.00 target price on the stock. in a research 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 on the stock in a research report on Friday, January 5th. Finally, ValuEngine downgraded Loews from a “buy” rating to a “hold” rating in a research 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 stock. Loews presently has a consensus rating of “Hold” and an average target price of $56.00.
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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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