Aberdeen Asset Management PLC UK increased its holdings in shares of Loews Corporation (NYSE:L) by 27.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,437 shares of the insurance provider’s stock after acquiring an additional 20,424 shares during the quarter. Aberdeen Asset Management PLC UK’s holdings in Loews Corporation were worth $4,468,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Loews Corporation by 3.7% during the first quarter. Vanguard Group Inc. now owns 18,257,124 shares of the insurance provider’s stock worth $853,885,000 after acquiring an additional 646,147 shares during the period. BlackRock Inc. lifted its holdings in Loews Corporation by 2,869.0% during the first quarter. BlackRock Inc. now owns 17,358,322 shares of the insurance provider’s stock worth $811,848,000 after acquiring an additional 16,773,671 shares during the period. State Street Corp lifted its holdings in Loews Corporation by 1.9% during the first quarter. State Street Corp now owns 13,162,234 shares of the insurance provider’s stock worth $615,592,000 after acquiring an additional 249,096 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Loews Corporation by 3.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 4,627,523 shares of the insurance provider’s stock worth $216,614,000 after acquiring an additional 170,355 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Loews Corporation by 13.1% during the second quarter. Wells Fargo & Company MN now owns 4,348,887 shares of the insurance provider’s stock worth $203,570,000 after acquiring an additional 503,117 shares during the period. Institutional investors and hedge funds own 58.59% of the company’s stock.
Shares of Loews Corporation (L) opened at 47.49 on Friday. The firm has a 50 day moving average price of $47.62 and a 200 day moving average price of $47.13. Loews Corporation has a 52 week low of $39.71 and a 52 week high of $49.58. The company has a market capitalization of $15.99 billion, a price-to-earnings ratio of 14.03 and a beta of 0.71.
Loews Corporation (NYSE:L) last released its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. The firm had revenue of $3.36 billion for the quarter. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. During the same period in the previous year, the company earned $0.59 earnings per share. Equities analysts forecast that Loews Corporation will post $3.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th were issued a dividend of $0.0625 per share. The ex-dividend date was Monday, August 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.53%. Loews Corporation’s payout ratio is 7.53%.
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L has been the topic of several research reports. Zacks Investment Research upgraded Loews Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub lowered Loews Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC restated a “sell” rating and issued 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 assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average 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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