Chevy Chase Trust Holdings Inc. decreased its stake in shares of Loews Corporation (NYSE:L) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 244,858 shares of the insurance provider’s stock after selling 903 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.07% of Loews Corporation worth $11,462,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Loews Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 18,257,124 shares of the insurance provider’s stock valued at $853,885,000 after buying an additional 646,147 shares during the period. BlackRock Inc. boosted its stake in Loews Corporation by 2,869.0% in the first quarter. BlackRock Inc. now owns 17,358,322 shares of the insurance provider’s stock valued at $811,848,000 after buying an additional 16,773,671 shares during the period. State Street Corp boosted its position in Loews Corporation by 1.9% in the first quarter. State Street Corp now owns 13,162,234 shares of the insurance provider’s stock worth $615,592,000 after buying an additional 249,096 shares during the last quarter. Boston Partners boosted its position in Loews Corporation by 5.0% in the first quarter. Boston Partners now owns 8,223,810 shares of the insurance provider’s stock worth $384,628,000 after buying an additional 391,579 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Loews Corporation by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,464,765 shares of the insurance provider’s stock worth $162,046,000 after buying an additional 49,541 shares during the last quarter. 58.85% of the stock is owned by institutional investors.
Loews Corporation (L) traded down 0.64% during midday trading on Friday, reaching $48.27. 526,950 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $47.74 and its 200 day moving average is $47.08. Loews Corporation has a 52 week low of $39.71 and a 52 week high of $49.58. The firm has a market capitalization of $16.25 billion, a P/E ratio of 14.26 and a beta of 0.71.
Loews Corporation (NYSE:L) last posted its earnings results on Monday, July 31st. The insurance provider reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. The business had revenue of $3.36 billion for the quarter. During the same period in the previous year, the firm posted $0.59 earnings per share. On average, analysts expect that Loews Corporation will post $3.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.52%. Loews Corporation’s payout ratio is currently 7.53%.
L has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Loews Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. BidaskClub raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a “sell” rating and set a $35.00 price objective 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 issued a hold rating and one has given a buy rating to the stock. Loews Corporation 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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