Loews Corp. (L) Shares Bought by Eaton Vance Management
Eaton Vance Management increased its position in Loews Corp. (NYSE:L) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,314 shares of the company’s stock after buying an additional 45 shares during the period. Eaton Vance Management’s holdings in Loews Corp. were worth $2,355,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Chevy Chase Trust Holdings Inc. increased its position in Loews Corp. by 0.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 233,772 shares of the company’s stock worth $8,944,000 after buying an additional 782 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Loews Corp. by 8.9% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 66,138 shares of the company’s stock worth $2,530,000 after buying an additional 5,379 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its position in Loews Corp. by 3.9% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 65,205 shares of the company’s stock worth $2,495,000 after buying an additional 2,461 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Loews Corp. during the first quarter worth about $488,000. Finally, PGGM Investments acquired a new position in Loews Corp. during the first quarter worth about $9,160,000. Hedge funds and other institutional investors own 56.99% of the company’s stock.
Loews Corp. (NYSE:L) traded up 0.46% during trading on Thursday, hitting $41.06. 487,131 shares of the stock traded hands. The stock has a 50 day moving average price of $41.22 and a 200-day moving average price of $40.05. Loews Corp. has a 52-week low of $33.84 and a 52-week high of $42.07. The stock has a market cap of $13.84 billion, a P/E ratio of 789.62 and a beta of 0.87.
Loews Corp. (NYSE:L) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.82. Loews Corp. had a net margin of 0.14% and a return on equity of 2.77%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the company earned $0.59 EPS. On average, analysts anticipate that Loews Corp. will post $2.50 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.0625 per share. The ex-dividend date was Monday, August 29th. This represents a $0.25 annualized dividend and a dividend yield of 0.61%. Loews Corp.’s dividend payout ratio (DPR) is currently 833.33%.
Several brokerages have weighed in on L. TheStreet downgraded shares of Loews Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Zacks Investment Research downgraded shares of Loews Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th.
About Loews Corp.
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 gathering and processing of natural gas, and operation of a chain of hotels.
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