US Bancorp DE Acquires 1,053 Shares of Loews Corporation (L)
US Bancorp DE raised its stake in shares of Loews Corporation (NYSE:L) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,319 shares of the insurance provider’s stock after buying an additional 1,053 shares during the period. US Bancorp DE’s holdings in Loews Corporation were worth $1,044,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in L. Cleararc Capital Inc. raised its position in shares of Loews Corporation by 0.4% in the first quarter. Cleararc Capital Inc. now owns 6,744 shares of the insurance provider’s stock worth $315,000 after buying an additional 26 shares during the last quarter. Soros Fund Management LLC raised its position in shares of Loews Corporation by 1.8% in the first quarter. Soros Fund Management LLC now owns 5,600 shares of the insurance provider’s stock worth $262,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Loews Corporation by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the insurance provider’s stock worth $800,000 after buying an additional 100 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Loews Corporation by 0.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 41,009 shares of the insurance provider’s stock worth $1,918,000 after buying an additional 109 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Loews Corporation by 2.3% in the second quarter. CENTRAL TRUST Co now owns 5,117 shares of the insurance provider’s stock worth $239,000 after buying an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 58.85% of the company’s stock.
Shares of Loews Corporation (NYSE L) traded down 0.74% during midday trading on Wednesday, reaching $48.58. 402,822 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $47.44 and its 200 day moving average is $46.94. The firm has a market cap of $16.35 billion, a PE ratio of 14.36 and a beta of 0.71. Loews Corporation has a one year low of $39.71 and a one year high of $49.27.
Loews Corporation (NYSE:L) last posted its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.76. The business 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 period in the prior year, the business posted $0.59 EPS. Analysts anticipate that Loews Corporation will post $3.04 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Wednesday, August 30th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.51%. Loews Corporation’s dividend payout ratio is currently 7.53%.
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A number of equities analysts recently weighed in on the stock. Jefferies Group LLC restated a “sell” rating and issued a $35.00 price objective on shares of Loews Corporation in a report on Tuesday, June 6th. BidaskClub upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research lowered shares of Loews Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company has a consensus 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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