Dean Capital Investments Management LLC trimmed its stake in shares of Loews Co. (NYSE:L) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,626 shares of the insurance provider’s stock after selling 594 shares during the quarter. Dean Capital Investments Management LLC’s holdings in Loews were worth $547,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in L. Nuveen Asset Management LLC increased its position in Loews by 22,489.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,547,405 shares of the insurance provider’s stock valued at $84,596,000 after acquiring an additional 1,540,555 shares during the period. BlackRock Inc. increased its position in Loews by 3.8% in the 2nd quarter. BlackRock Inc. now owns 19,005,207 shares of the insurance provider’s stock valued at $1,039,014,000 after acquiring an additional 700,123 shares during the period. Acadian Asset Management LLC increased its position in Loews by 203.1% in the 2nd quarter. Acadian Asset Management LLC now owns 568,230 shares of the insurance provider’s stock valued at $31,064,000 after acquiring an additional 380,774 shares during the period. JPMorgan Chase & Co. increased its position in Loews by 2.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 17,100,855 shares of the insurance provider’s stock valued at $919,513,000 after acquiring an additional 368,723 shares during the period. Finally, Man Group plc increased its position in Loews by 306.6% in the 2nd quarter. Man Group plc now owns 473,967 shares of the insurance provider’s stock valued at $25,913,000 after acquiring an additional 357,405 shares during the period. Institutional investors and hedge funds own 63.39% of the company’s stock.
Several brokerages have issued reports on L. TheStreet cut shares of Loews from a “b” rating to a “c+” rating in a research report on Monday, October 28th. ValuEngine cut shares of Loews from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Loews from a “sell” rating to a “hold” rating and set a $50.00 price objective for the company in a research report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Loews presently has a consensus rating of “Hold” and a consensus target price of $65.20.
Shares of L traded down $0.24 during trading hours on Wednesday, hitting $50.41. 248,801 shares of the stock were exchanged, compared to its average volume of 1,050,843. Loews Co. has a fifty-two week low of $42.06 and a fifty-two week high of $56.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.33 and a quick ratio of 0.33. The business has a 50-day moving average of $50.49 and a 200-day moving average of $51.56. The firm has a market capitalization of $15.17 billion, a P/E ratio of 17.75 and a beta of 0.65.
Loews (NYSE:L) last posted its quarterly earnings data on Monday, October 28th. The insurance provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.51). Loews had a return on equity of 4.45% and a net margin of 3.83%. The firm had revenue of $3.68 billion for the quarter. During the same period in the previous year, the business posted $0.84 EPS. As a group, analysts forecast that Loews Co. will post 2.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.50%. Loews’s dividend payout ratio (DPR) is presently 8.80%.
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.
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