Loews Corp. (L) Position Increased by Bbva Compass Bancshares Inc.
Bbva Compass Bancshares Inc. raised its position in Loews Corp. (NYSE:L) by 101.1% during the second quarter, Holdings Channel reports. The institutional investor owned 41,292 shares of the company’s stock after buying an additional 20,757 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Loews Corp. were worth $1,697,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in L. Renaissance Technologies LLC raised its position in shares of Loews Corp. by 423.0% in the first quarter. Renaissance Technologies LLC now owns 866,165 shares of the company’s stock valued at $33,139,000 after buying an additional 700,565 shares during the period. Mraz Amerine & Associates Inc. raised its position in shares of Loews Corp. by 1.5% in the second quarter. Mraz Amerine & Associates Inc. now owns 300,121 shares of the company’s stock valued at $12,332,000 after buying an additional 4,540 shares during the period. Retirement Systems of Alabama raised its position in shares of Loews Corp. by 43.3% in the second quarter. Retirement Systems of Alabama now owns 377,524 shares of the company’s stock valued at $15,512,000 after buying an additional 114,038 shares during the period. Conning Inc. purchased a new position in shares of Loews Corp. during the second quarter valued at approximately $236,000. Finally, UBS Asset Management Americas Inc. raised its position in shares of Loews Corp. by 50.9% in the first quarter. UBS Asset Management Americas Inc. now owns 1,143,368 shares of the company’s stock valued at $43,746,000 after buying an additional 385,838 shares during the period. Institutional investors and hedge funds own 56.99% of the company’s stock.
Shares of Loews Corp. (NYSE:L) traded up 0.66% during midday trading on Friday, reaching $41.19. The company had a trading volume of 805,999 shares. The stock has a 50-day moving average of $41.11 and a 200 day moving average of $40.36. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 792.12 and a beta of 0.86. Loews Corp. has a 52 week low of $33.84 and a 52 week high of $42.07.
Loews Corp. (NYSE:L) last released its earnings results on Monday, August 1st. The company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.82. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Loews Corp. had a net margin of 0.14% and a return on equity of 2.77%. During the same quarter last year, the firm posted $0.59 earnings per share. On average, analysts anticipate that Loews Corp. will post $2.50 earnings per share for the current year.
Several brokerages have recently commented on L. Zacks Investment Research upgraded Loews Corp. from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Tuesday, October 4th. TheStreet lowered Loews Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 1st.
Loews Corp. 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 gathering and processing of natural gas, and operation of a chain of hotels.
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