Royal London Asset Management Ltd. acquired a new stake in Loews Co. (NYSE:L) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 116,618 shares of the insurance provider’s stock, valued at approximately $5,630,000.
Other large investors have also recently bought and sold shares of the company. Reilly Financial Advisors LLC increased its stake in Loews by 402.4% in the 2nd quarter. Reilly Financial Advisors LLC now owns 2,135 shares of the insurance provider’s stock valued at $103,000 after buying an additional 1,710 shares during the last quarter. Braun Bostich & Associates Inc. grew its position in shares of Loews by 1,286.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 2,176 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 2,019 shares during the period. Dupont Capital Management Corp grew its position in shares of Loews by 57.9% during the 2nd quarter. Dupont Capital Management Corp now owns 3,042 shares of the insurance provider’s stock valued at $147,000 after acquiring an additional 1,116 shares during the period. Federated Investors Inc. PA grew its position in shares of Loews by 385.9% during the 2nd quarter. Federated Investors Inc. PA now owns 3,304 shares of the insurance provider’s stock valued at $160,000 after acquiring an additional 2,624 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Loews during the 2nd quarter valued at approximately $176,000. Hedge funds and other institutional investors own 62.41% of the company’s stock.
A number of research analysts have recently weighed in on L shares. Zacks Investment Research downgraded shares of Loews from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Deutsche Bank increased their target price on shares of Loews from $51.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Loews currently has an average rating of “Hold” and an average price target of $53.68.
Loews stock opened at $49.97 on Thursday. Loews Co. has a twelve month low of $45.52 and a twelve month high of $53.59. The company has a market cap of $16.03 billion, a PE ratio of 17.26 and a beta of 0.67. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.52.
Loews (NYSE:L) last released its earnings results on Monday, July 30th. The insurance provider reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. The firm had revenue of $3.59 billion during the quarter. Loews had a net margin of 8.15% and a return on equity of 4.11%. During the same period in the prior year, the company earned $0.68 earnings per share. equities analysts expect that Loews Co. will post 3.4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 11th. Investors of record on Wednesday, August 29th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Tuesday, August 28th. Loews’s dividend payout ratio (DPR) is presently 8.74%.
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States, Canada, the United Kingdom, Continental Europe, and Singapore. The company offers management and professional liability insurance and risk management services, and other specialized property and casualty coverages; commercial surety and fidelity bonds; and warranty and alternative risk services primarily for vehicles and cell phones.
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