Public Employees Retirement Association of Colorado lowered its stake in Loews Corporation (NYSE:L) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,277 shares of the insurance provider’s stock after selling 128 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Loews Corporation were worth $2,353,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. 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 worth $853,885,000 after buying an additional 646,147 shares in the last quarter. 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 worth $811,848,000 after buying an additional 16,773,671 shares in the last quarter. State Street Corp boosted its stake 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 in the last quarter. Boston Partners boosted its stake 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake 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 in the last quarter. Institutional investors and hedge funds own 58.80% of the company’s stock.
Loews Corporation (L) traded up 0.32% during midday trading on Friday, hitting $47.58. The stock had a trading volume of 793,580 shares. The company has a 50-day moving average of $47.94 and a 200-day moving average of $47.13. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 14.06 and a beta of 0.71. Loews Corporation has a 1-year low of $39.71 and a 1-year high of $49.58.
Loews Corporation (NYSE:L) last announced its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. The company had revenue of $3.36 billion during the quarter. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. During the same quarter last year, the company posted $0.59 earnings per share. Equities research analysts forecast that Loews Corporation will post $3.03 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.53%. Loews Corporation’s dividend payout ratio (DPR) is presently 7.53%.
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L has been the subject of a number of recent analyst reports. Zacks Investment Research cut Loews Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 14th. BidaskClub cut Loews Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC reissued a “sell” rating and issued a $35.00 target price on shares of Loews Corporation in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price 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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