SG Americas Securities LLC Grows Position in Loews Corporation (L)
SG Americas Securities LLC increased its position in Loews Corporation (NYSE:L) by 150.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,599 shares of the insurance provider’s stock after buying an additional 67,125 shares during the period. SG Americas Securities LLC’s holdings in Loews Corporation were worth $5,341,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Thrivent Financial For Lutherans boosted its position in Loews Corporation by 5.0% during the first quarter. Thrivent Financial For Lutherans now owns 10,130 shares of the insurance provider’s stock worth $474,000 after purchasing an additional 480 shares during the period. Bank of Montreal Can boosted its position in Loews Corporation by 21.8% during the second quarter. Bank of Montreal Can now owns 139,622 shares of the insurance provider’s stock worth $6,535,000 after purchasing an additional 25,034 shares during the period. Gateway Investment Advisers LLC boosted its position in Loews Corporation by 1.7% during the second quarter. Gateway Investment Advisers LLC now owns 17,928 shares of the insurance provider’s stock worth $839,000 after purchasing an additional 292 shares during the period. James Investment Research Inc. bought a new stake in Loews Corporation during the second quarter worth approximately $1,225,000. Finally, Louisiana State Employees Retirement System boosted its position in Loews Corporation by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the insurance provider’s stock worth $800,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 58.62% of the company’s stock.
Loews Corporation (L) traded up $0.02 on Friday, hitting $49.22. The stock had a trading volume of 1,025,499 shares, compared to its average volume of 1,241,168. Loews Corporation has a 12 month low of $43.70 and a 12 month high of $49.99. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $16,568.98, a PE ratio of 17.09 and a beta of 0.75.
Loews Corporation (NYSE:L) last posted its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.44. Loews Corporation had a return on equity of 4.08% and a net margin of 7.04%. The company had revenue of $3.52 billion during the quarter. During the same period in the prior year, the company posted $0.89 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. equities research analysts anticipate that Loews Corporation will post 2.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th will be given a $0.0625 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.51%. Loews Corporation’s dividend payout ratio is 8.90%.
In other news, insider Jonathan M. Tisch sold 1,394,935 shares of the 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 completion of the sale, the insider now directly owns 2,169,075 shares of the company’s stock, valued at $104,983,230. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard Waldo Scott sold 6,471 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were 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 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. 11.80% of the stock is owned by company insiders.
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L has been the subject of a number of recent analyst reports. BidaskClub cut Loews Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. ValuEngine cut Loews Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research cut Loews Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd.
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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