Flinton Capital Management LLC boosted its stake in shares of Loews Co. (NYSE:L) by 6.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,744 shares of the insurance provider’s stock after acquiring an additional 464 shares during the period. Flinton Capital Management LLC’s holdings in Loews were worth $363,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Commerce Bank raised its position in shares of Loews by 0.3% in the second quarter. Commerce Bank now owns 7,229 shares of the insurance provider’s stock valued at $339,000 after buying an additional 24 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Loews by 0.4% in the first quarter. Cleararc Capital Inc. now owns 6,744 shares of the insurance provider’s stock valued at $315,000 after buying an additional 26 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Loews by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after buying an additional 27 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. raised its position in shares of Loews by 0.9% in the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,076 shares of the insurance provider’s stock valued at $284,000 after buying an additional 57 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Loews by 0.3% in the second quarter. CIBC Asset Management Inc now owns 28,352 shares of the insurance provider’s stock valued at $1,327,000 after buying an additional 73 shares during the last quarter. Institutional investors own 58.59% of the company’s stock.
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L has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Loews from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. BidaskClub cut shares of Loews from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.00.
Shares of Loews Co. (L) opened at 48.70 on Thursday. The firm has a market capitalization of $16.39 billion, a PE ratio of 14.39 and a beta of 0.71. Loews Co. has a 52-week low of $40.73 and a 52-week high of $49.58. The company’s 50-day moving average is $47.46 and its 200 day moving average is $47.27.
Loews (NYSE:L) last released its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.76. The firm had revenue of $3.36 billion during the quarter. Loews had a return on equity of 4.97% and a net margin of 8.27%. During the same quarter in the prior year, the company earned $0.59 EPS. Equities analysts expect that Loews Co. will post $3.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Wednesday, August 30th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, August 28th. Loews’s dividend payout ratio is presently 7.53%.
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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