Clearbridge Investments LLC lowered its position in Loews Corporation (NYSE:L) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,580 shares of the insurance provider’s stock after selling 475 shares during the period. Clearbridge Investments LLC’s holdings in Loews Corporation were worth $1,056,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in shares of Loews Corporation by 14.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,430 shares of the insurance provider’s stock worth $769,000 after buying an additional 2,136 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Loews Corporation by 6.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,650 shares of the insurance provider’s stock worth $452,000 after buying an additional 600 shares during the last quarter. Numeric Investors LLC increased its position in shares of Loews Corporation by 7.6% in the fourth quarter. Numeric Investors LLC now owns 8,500 shares of the insurance provider’s stock worth $398,000 after buying an additional 600 shares during the last quarter. Vident Investment Advisory LLC increased its position in shares of Loews Corporation by 4.9% in the fourth quarter. Vident Investment Advisory LLC now owns 60,819 shares of the insurance provider’s stock worth $2,848,000 after buying an additional 2,834 shares during the last quarter. Finally, USA Financial Portformulas Corp acquired a new position in shares of Loews Corporation during the fourth quarter worth about $3,423,000. Institutional investors own 58.75% of the company’s stock.
Shares of Loews Corporation (NYSE:L) traded up 0.35% on Friday, reaching $49.14. 937,134 shares of the company were exchanged. The stock has a 50 day moving average of $47.44 and a 200-day moving average of $46.94. The company has a market capitalization of $16.54 billion, a P/E ratio of 14.52 and a beta of 0.71. Loews Corporation has a 52-week low of $39.71 and a 52-week high of $49.27.
Loews Corporation (NYSE:L) last released its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. The firm had revenue of $3.36 billion for the quarter. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. During the same period in the prior year, the firm posted $0.59 EPS. On average, analysts predict that Loews Corporation will post $3.17 EPS for the current fiscal year.
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Several equities analysts recently issued reports on the company. Zacks Investment Research raised Loews Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, Jefferies Group LLC reissued a “sell” rating and set a $35.00 target price on shares of Loews Corporation in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $43.33.
About Loews Corporation
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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