OxFORD Asset Management LLP lowered its stake in Loews Corporation (NYSE:L) by 33.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,774 shares of the insurance provider’s stock after selling 12,396 shares during the quarter. OxFORD Asset Management LLP’s holdings in Loews Corporation were worth $1,160,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in L. First Trust Advisors LP increased its stake in Loews Corporation by 11.1% during the 1st quarter. First Trust Advisors LP now owns 13,989 shares of the insurance provider’s stock valued at $654,000 after purchasing an additional 1,403 shares in the last quarter. OppenheimerFunds Inc. increased its stake in Loews Corporation by 10.5% during the 1st quarter. OppenheimerFunds Inc. now owns 40,503 shares of the insurance provider’s stock valued at $1,894,000 after purchasing an additional 3,834 shares in the last quarter. Wellington Management Group LLP increased its stake in Loews Corporation by 48.4% during the 1st quarter. Wellington Management Group LLP now owns 421,781 shares of the insurance provider’s stock valued at $19,727,000 after purchasing an additional 137,575 shares in the last quarter. FMR LLC increased its stake in Loews Corporation by 0.8% during the 1st quarter. FMR LLC now owns 350,610 shares of the insurance provider’s stock valued at $16,398,000 after purchasing an additional 2,860 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in Loews Corporation by 6.8% during the 1st quarter. Teachers Advisors LLC now owns 404,162 shares of the insurance provider’s stock valued at $18,903,000 after purchasing an additional 25,556 shares in the last quarter. Institutional investors own 58.59% of the company’s stock.
A number of brokerages have commented on L. BidaskClub upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $39.00.
Shares of Loews Corporation (NYSE:L) opened at 48.86 on Friday. Loews Corporation has a 52 week low of $40.73 and a 52 week high of $49.58. The firm’s 50-day moving average is $47.50 and its 200-day moving average is $47.28. The company has a market cap of $16.45 billion, a price-to-earnings ratio of 14.44 and a beta of 0.71.
Loews Corporation (NYSE:L) last issued its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. The firm had revenue of $3.36 billion during the quarter. During the same quarter in the previous year, the business earned $0.59 earnings per share. Equities research analysts predict that Loews Corporation will post $3.05 earnings per share for the current year.
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Loews Corporation 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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