Loews Corporation (NYSE:L) released its earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.76, Morningstar.com reports. 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 during the quarter. During the same period in the prior year, the company earned $0.59 earnings per share.
Loews Corporation (NYSE L) opened at 47.58 on Friday. The firm has a 50-day moving average of $47.94 and a 200 day moving average of $47.13. Loews Corporation has a one year low of $39.71 and a one year high of $49.58. The company has a market capitalization of $16.02 billion, a P/E ratio of 14.06 and a beta of 0.71.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Wednesday, August 30th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, August 28th. Loews Corporation’s dividend payout ratio (DPR) is presently 7.53%.
A number of research firms have recently weighed in on L. Jefferies Group LLC reissued a “sell” rating and set a $35.00 target price on shares of Loews Corporation in a research report on Tuesday, June 6th. BidaskClub raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Zacks Investment Research downgraded shares of Loews Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. Two investment 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 price target of $43.33.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position 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 worth $811,848,000 after buying an additional 16,773,671 shares during the last quarter. Janus Henderson Group PLC raised its position in Loews Corporation by 4,046.2% in the second quarter. Janus Henderson Group PLC now owns 1,657,777 shares of the insurance provider’s stock worth $77,601,000 after buying an additional 1,617,794 shares during the last quarter. Janus Capital Management LLC raised its position in shares of Loews Corporation by 157.4% in the first quarter. Janus Capital Management LLC now owns 1,327,375 shares of the insurance provider’s stock worth $62,082,000 after buying an additional 811,689 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Loews Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 18,257,124 shares of the insurance provider’s stock worth $853,885,000 after buying an additional 646,147 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Loews Corporation by 13.1% in the second quarter. Wells Fargo & Company MN now owns 4,348,887 shares of the insurance provider’s stock worth $203,570,000 after buying an additional 503,117 shares in the last quarter. Institutional investors and hedge funds own 58.80% of the company’s stock.
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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