SSI Investment Management Inc. continued to hold its stake in Loews Corporation (NYSE:L) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,540 shares of the insurance provider’s stock at the close of the 2nd quarter. SSI Investment Management Inc.’s holdings in Loews Corporation were worth $774,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Amalgamated Bank lifted its holdings in shares of Loews Corporation by 59.6% during the 2nd quarter. Amalgamated Bank now owns 31,282 shares of the insurance provider’s stock worth $1,464,000 after acquiring an additional 11,679 shares during the period. BlackRock Inc. lifted its holdings in shares of Loews Corporation by 1.2% during the 2nd quarter. BlackRock Inc. now owns 17,570,706 shares of the insurance provider’s stock worth $822,484,000 after acquiring an additional 212,384 shares during the period. Nationwide Fund Advisors lifted its holdings in shares of Loews Corporation by 6.9% during the 2nd quarter. Nationwide Fund Advisors now owns 207,810 shares of the insurance provider’s stock worth $9,728,000 after acquiring an additional 13,500 shares during the period. Captrust Financial Advisors bought a new stake in shares of Loews Corporation during the 2nd quarter worth approximately $512,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Loews Corporation by 1.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 996,609 shares of the insurance provider’s stock worth $46,617,000 after acquiring an additional 14,036 shares during the period. 58.59% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on L. Jefferies Group LLC reaffirmed a “sell” rating and set a $35.00 price target on shares of Loews Corporation in a report on Tuesday, June 6th. BidaskClub downgraded shares of Loews Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research downgraded shares of Loews Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 19th. Two 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. Loews Corporation has a consensus rating of “Hold” and a consensus target price of $43.33.
Shares of Loews Corporation (NYSE L) traded down 0.30% during mid-day trading on Friday, hitting $47.08. 382,436 shares of the stock were exchanged. The stock’s 50-day moving average is $47.64 and its 200-day moving average is $47.13. Loews Corporation has a 52 week low of $39.71 and a 52 week high of $49.58. The stock has a market capitalization of $15.85 billion, a price-to-earnings ratio of 13.91 and a beta of 0.71.
Loews Corporation (NYSE:L) last released its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.76 EPS for the quarter, meeting analysts’ consensus estimates of $0.76. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. The company had revenue of $3.36 billion during the quarter. During the same quarter last year, the business posted $0.59 earnings per share. Analysts forecast that Loews Corporation will post $3.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Wednesday, August 30th were given a dividend of $0.0625 per share. The ex-dividend date was Monday, August 28th. This represents a $0.25 annualized dividend and a yield of 0.53%. Loews Corporation’s payout ratio is presently 7.53%.
Loews Corporation 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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