Alliancebernstein L.P. reduced its position in Loews Corporation (NYSE:L) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 517,761 shares of the insurance provider’s stock after selling 75,923 shares during the quarter. Alliancebernstein L.P. owned approximately 0.15% of Loews Corporation worth $24,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of L. Parallel Advisors LLC boosted its position in shares of 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 purchasing an additional 1,985 shares during the period. Private Advisor Group LLC bought a new position in shares of Loews Corporation in the first quarter worth approximately $127,000. Oppenheimer Asset Management Inc. bought a new position in shares of Loews Corporation in the first quarter worth approximately $175,000. CENTRAL TRUST Co boosted its position in shares of Loews Corporation by 2.3% in the second quarter. CENTRAL TRUST Co now owns 5,117 shares of the insurance provider’s stock worth $239,000 after purchasing an additional 117 shares during the period. Finally, Trust Co. of Vermont boosted its position in shares of Loews Corporation by 14.7% in the second quarter. Trust Co. of Vermont now owns 5,455 shares of the insurance provider’s stock worth $255,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 58.58% of the company’s stock.
Loews Corporation (NYSE L) opened at 47.79 on Thursday. The stock has a market cap of $16.09 billion, a P/E ratio of 14.12 and a beta of 0.71. The stock has a 50 day moving average of $47.57 and a 200 day moving average of $47.13. Loews Corporation has a 12-month low of $39.71 and a 12-month high of $49.58.
Loews Corporation (NYSE:L) last released its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share (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 firm had revenue of $3.36 billion for the quarter. During the same period in the prior year, the business posted $0.59 EPS. On average, equities research analysts anticipate that Loews Corporation will post $3.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Wednesday, August 30th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Monday, August 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.52%. Loews Corporation’s dividend payout ratio is currently 7.53%.
L has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Jefferies Group LLC reiterated 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 given a hold rating and one has issued a buy rating to the company’s stock. Loews Corporation has a consensus rating of “Hold” and an average target price of $43.33.
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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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