AMP Capital Investors Ltd Has $3.45 Million Position in Loews Co. (L)
AMP Capital Investors Ltd reduced its stake in Loews Co. (NYSE:L) by 34.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 68,980 shares of the insurance provider’s stock after selling 36,355 shares during the quarter. AMP Capital Investors Ltd’s holdings in Loews were worth $3,449,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Focused Wealth Management Inc lifted its holdings in shares of Loews by 187.5% during the fourth quarter. Focused Wealth Management Inc now owns 2,300 shares of the insurance provider’s stock worth $115,000 after buying an additional 1,500 shares during the last quarter. Calton & Associates Inc. acquired a new position in shares of Loews during the fourth quarter worth approximately $137,000. Tower Research Capital LLC TRC lifted its holdings in shares of Loews by 387.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,826 shares of the insurance provider’s stock worth $142,000 after buying an additional 2,246 shares during the last quarter. Stuart Chaussee & Associates Inc. acquired a new position in shares of Loews during the fourth quarter worth approximately $167,000. Finally, Cerebellum GP LLC acquired a new position in shares of Loews during the fourth quarter worth approximately $196,000. Hedge funds and other institutional investors own 64.34% of the company’s stock.
In other Loews news, insider Kenneth I. Siegel sold 6,242 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $50.23, for a total value of $313,535.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan M. Tisch sold 7,800 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $47.51, for a total value of $370,578.00. Following the completion of the sale, the insider now owns 2,990,022 shares in the company, valued at $142,055,945.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,316 shares of company stock worth $697,655. 11.80% of the stock is currently owned by company insiders.
Shares of Loews stock opened at $51.59 on Thursday. The stock has a market capitalization of $16,766.80, a P/E ratio of 14.95 and a beta of 0.72. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.46. Loews Co. has a 1 year low of $45.01 and a 1 year high of $53.59.
Loews (NYSE:L) last released its quarterly earnings data on Monday, February 12th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. The business had revenue of $3.56 billion for the quarter. Loews had a return on equity of 4.08% and a net margin of 8.47%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share. analysts predict that Loews Co. will post 3.5 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Tuesday, February 27th. Loews’s dividend payout ratio is presently 7.25%.
Loews 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.
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