Loews Corporation (NYSE:L) Stake Maintained by Foster Dykema Cabot & Co. Inc. MA
Foster Dykema Cabot & Co. Inc. MA held its position in shares of Loews Corporation (NYSE:L) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,000 shares of the insurance provider’s stock at the end of the second quarter. Foster Dykema Cabot & Co. Inc. MA’s holdings in Loews Corporation were worth $421,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC raised its stake in Loews Corporation by 285.2% in the first quarter. Parallel Advisors LLC now owns 2,681 shares of the insurance provider’s stock valued at $126,000 after buying an additional 1,985 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Loews Corporation during the first quarter valued at approximately $175,000. Cedar Wealth Management LLC raised its stake in Loews Corporation by 5.0% in the first quarter. Cedar Wealth Management LLC now owns 4,010 shares of the insurance provider’s stock valued at $188,000 after buying an additional 190 shares during the period. Advisors Preferred LLC purchased a new stake in Loews Corporation during the first quarter valued at approximately $210,000. Finally, Princeton Alpha Management LP purchased a new stake in Loews Corporation during the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 58.85% of the company’s stock.
Shares of Loews Corporation (L) opened at 48.27 on Friday. The firm’s 50-day moving average price is $47.74 and its 200 day moving average price is $47.08. The stock has a market capitalization of $16.25 billion, a price-to-earnings ratio of 14.26 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 issued its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.76. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. The business had revenue of $3.36 billion during the quarter. During the same period last year, the business earned $0.59 earnings per share. Equities research analysts expect that Loews Corporation will post $3.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.52%. Loews Corporation’s dividend payout ratio (DPR) is 7.53%.
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Several research firms have commented on L. Jefferies Group LLC reiterated a “sell” rating and set a $35.00 price objective on shares of Loews Corporation in a research note on Tuesday, June 6th. BidaskClub upgraded Loews Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research lowered 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 issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target 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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