Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 25,410 Shares of Loews Corporation (L)
Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Loews Corporation (NYSE:L) by 37.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,213 shares of the insurance provider’s stock after purchasing an additional 25,410 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Loews Corporation were worth $4,461,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of L. Northwestern Mutual Wealth Management Co. grew its position in shares of Loews Corporation by 6.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock worth $105,000 after buying an additional 140 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Loews Corporation during the second quarter worth about $131,000. D.A. Davidson & CO. grew its position in shares of Loews Corporation by 1.0% during the second quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock worth $132,000 after buying an additional 27 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Loews Corporation by 25.4% during the second quarter. Parallel Advisors LLC now owns 3,361 shares of the insurance provider’s stock worth $164,000 after buying an additional 680 shares in the last quarter. Finally, Saratoga Research & Investment Management acquired a new position in shares of Loews Corporation during the third quarter worth about $176,000. Institutional investors own 58.62% of the company’s stock.
L has been the subject of a number of analyst reports. BidaskClub raised Loews Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded Loews Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, ValuEngine downgraded Loews Corporation from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.00.
In other news, SVP Richard Waldo Scott sold 6,471 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $49.80, for a total value of $322,255.80. Following the completion of the sale, the senior vice president now directly owns 11,250 shares of the company’s stock, valued at $560,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $48.40, for a total value of $67,514,854.00. Following the sale, the insider now owns 2,169,075 shares of the company’s stock, valued at approximately $104,983,230. The disclosure for this sale can be found here. Insiders sold 1,401,603 shares of company stock valued at $67,846,868 over the last three months. Corporate insiders own 11.80% of the company’s stock.
Shares of Loews Corporation (L) traded up $0.02 on Friday, reaching $49.22. The company had a trading volume of 1,025,499 shares, compared to its average volume of 853,138. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $16,560.00, a P/E ratio of 17.34 and a beta of 0.75. Loews Corporation has a 52-week low of $43.70 and a 52-week high of $49.99.
Loews Corporation (NYSE:L) last announced its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.44. The firm had revenue of $3.52 billion during the quarter. Loews Corporation had a return on equity of 4.08% and a net margin of 7.04%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.89 earnings per share. equities research analysts predict that Loews Corporation will post 2.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Tuesday, November 28th. Loews Corporation’s payout ratio is currently 8.68%.
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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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