LS Investment Advisors LLC cut its stake in Loews Corp. (NYSE:L) by 2.4% during the second quarter, Holdings Channel reports. The institutional investor owned 45,927 shares of the company’s stock after selling 1,108 shares during the period. LS Investment Advisors LLC’s holdings in Loews Corp. were worth $1,887,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC raised its position in Loews Corp. by 863.6% in the second quarter. Acadian Asset Management LLC now owns 122,943 shares of the company’s stock worth $5,052,000 after buying an additional 110,184 shares during the period. Moon Capital Management LLC raised its position in Loews Corp. by 2.8% in the second quarter. Moon Capital Management LLC now owns 69,378 shares of the company’s stock worth $2,851,000 after buying an additional 1,882 shares during the period. Nisa Investment Advisors LLC raised its position in Loews Corp. by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 86,237 shares of the company’s stock worth $3,543,000 after buying an additional 3,180 shares during the period. Windsor Financial Group LLC raised its position in Loews Corp. by 0.4% in the second quarter. Windsor Financial Group LLC now owns 109,099 shares of the company’s stock worth $4,483,000 after buying an additional 475 shares during the period. Finally, Marathon Asset Management LLP raised its position in Loews Corp. by 1.9% in the second quarter. Marathon Asset Management LLP now owns 2,131,820 shares of the company’s stock worth $87,593,000 after buying an additional 38,768 shares during the period. Institutional investors and hedge funds own 56.99% of the company’s stock.
Loews Corp. (NYSE:L) traded up 0.32% on Friday, hitting $41.29. 869,933 shares of the stock were exchanged. The company has a market cap of $13.92 billion, a PE ratio of 794.04 and a beta of 0.86. Loews Corp. has a 52 week low of $33.84 and a 52 week high of $42.07. The company’s 50-day moving average is $41.13 and its 200-day moving average is $40.30.
Loews Corp. (NYSE:L) last issued its quarterly earnings results on Monday, August 1st. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.63 by $0.82. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.32 billion. Loews Corp. had a net margin of 0.14% and a return on equity of 2.77%. During the same period last year, the business posted $0.59 earnings per share. On average, analysts predict that Loews Corp. will post $2.50 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Monday, August 29th. Loews Corp.’s dividend payout ratio (DPR) is 833.33%.
A number of research analysts have issued reports on L shares. Zacks Investment Research lowered shares of Loews Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 16th. TheStreet lowered shares of Loews Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st.
About Loews Corp.
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 gathering and processing of natural gas, and operation of a chain of hotels.
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