Point View Wealth Management Inc. Trims Position in Loews Corporation (L)

Point View Wealth Management Inc. lessened its position in shares of Loews Corporation (NYSE:L) by 18.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,017 shares of the insurance provider’s stock after selling 2,055 shares during the quarter. Point View Wealth Management Inc.’s holdings in Loews Corporation were worth $432,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Aviva PLC grew its holdings in Loews Corporation by 2.9% during the second quarter. Aviva PLC now owns 170,632 shares of the insurance provider’s stock valued at $7,989,000 after purchasing an additional 4,860 shares during the period. Commonwealth Bank of Australia grew its holdings in Loews Corporation by 38.4% during the second quarter. Commonwealth Bank of Australia now owns 654,351 shares of the insurance provider’s stock valued at $30,627,000 after purchasing an additional 181,616 shares during the period. Swiss National Bank grew its holdings in Loews Corporation by 3.0% during the second quarter. Swiss National Bank now owns 1,045,419 shares of the insurance provider’s stock valued at $48,936,000 after purchasing an additional 30,600 shares during the period. Louisiana State Employees Retirement System grew its holdings 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 valued at $800,000 after purchasing an additional 100 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new stake in Loews Corporation during the second quarter valued at about $1,686,000. Institutional investors own 59.05% of the company’s stock.

A number of research firms have recently weighed in on L. BidaskClub raised Loews Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised Loews Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine lowered Loews Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th.

In other Loews Corporation news, SVP Richard Waldo Scott sold 6,471 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $49.80, for a total transaction of $322,255.80. Following the sale, the senior vice president now directly owns 11,250 shares in the company, valued at $560,250. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total value of $67,514,854.00. Following the sale, the insider now owns 2,169,075 shares in the company, valued at $104,983,230. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,401,603 shares of company stock valued at $67,846,868. 11.80% of the stock is owned by corporate insiders.

Loews Corporation (L) traded up $0.13 during midday trading on Tuesday, hitting $49.35. The stock had a trading volume of 717,300 shares, compared to its average volume of 852,532. The company has a market capitalization of $16,570.00, a price-to-earnings ratio of 17.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.35 and a current ratio of 0.35. Loews Corporation has a 1 year low of $43.89 and a 1 year high of $49.99.

Loews Corporation (NYSE:L) last released its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.44. Loews Corporation had a return on equity of 4.08% and a net margin of 7.04%. The firm had revenue of $3.52 billion during the quarter. During the same period last year, the company earned $0.89 EPS. The business’s revenue was up 7.1% on a year-over-year basis. sell-side analysts forecast that Loews Corporation will post 2.75 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Wednesday, November 29th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Tuesday, November 28th. Loews Corporation’s payout ratio is presently 8.68%.

COPYRIGHT VIOLATION WARNING: This piece of content was published by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this piece of content on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright legislation. The original version of this piece of content can be accessed at https://sportsperspectives.com/2017/11/21/point-view-wealth-management-inc-trims-position-in-loews-corporation-l.html.

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.

Want to see what other hedge funds are holding L? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loews Corporation (NYSE:L).

Institutional Ownership by Quarter for Loews Corporation (NYSE:L)

Receive News & Ratings for Loews Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loews Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply