Clearbridge Investments LLC cut its position in shares of Loews Corporation (NYSE:L) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 quarter.
A number of other hedge funds have also added to or reduced their stakes in L. Parallel Advisors LLC increased its stake in Loews Corporation by 285.2% in the first quarter. Parallel Advisors LLC now owns 2,681 shares of the insurance provider’s stock worth $126,000 after buying an additional 1,985 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Loews Corporation during the first quarter worth approximately $175,000. Cedar Wealth Management LLC increased its stake in Loews Corporation by 5.0% in the first quarter. Cedar Wealth Management LLC now owns 4,010 shares of the insurance provider’s stock worth $188,000 after buying an additional 190 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of Loews Corporation during the first quarter worth about $210,000. Finally, Princeton Alpha Management LP purchased a new stake in shares of Loews Corporation during the first quarter worth about $212,000. Institutional investors own 58.53% of the company’s stock.
Shares of Loews Corporation (NYSE L) opened at 46.90 on Wednesday. The stock has a 50 day moving average of $46.86 and a 200-day moving average of $46.86. The firm has a market capitalization of $15.79 billion, a price-to-earnings ratio of 18.76 and a beta of 0.70. Loews Corporation has a one year low of $39.71 and a one year high of $48.39.
Loews Corporation (NYSE:L) last announced its earnings results on Monday, May 1st. The insurance provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.21. The business had revenue of $3.30 billion during the quarter. Loews Corporation had a net margin of 6.23% and a return on equity of 4.67%. During the same quarter last year, the company posted $0.30 earnings per share. On average, equities analysts anticipate that Loews Corporation will post $3.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Wednesday, May 31st were paid a $0.0625 dividend. The ex-dividend date was Friday, May 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.53%. Loews Corporation’s dividend payout ratio (DPR) is presently 10.25%.
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L has been the subject of a number of research analyst reports. BidaskClub cut shares of Loews Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research cut shares of Loews Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. Finally, Jefferies Group LLC reissued a “sell” rating and issued a $35.00 price target on shares of Loews Corporation in a research report on Tuesday, June 6th. Two research 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.33.
Loews Corporation 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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