Boston Partners Has $384.69 Million Position in Loews Corporation (NYSE:L)
Boston Partners cut its stake in shares of Loews Corporation (NYSE:L) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 8,218,012 shares of the insurance provider’s stock after selling 5,798 shares during the period. Boston Partners’ holdings in Loews Corporation were worth $384,685,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Teachers Advisors LLC raised its stake in Loews Corporation by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 378,606 shares of the insurance provider’s stock valued at $17,730,000 after buying an additional 15,961 shares during the last quarter. Macquarie Group Ltd. raised its stake in Loews Corporation by 34.0% in the fourth quarter. Macquarie Group Ltd. now owns 20,900 shares of the insurance provider’s stock valued at $979,000 after buying an additional 5,300 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Loews Corporation by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 245,761 shares of the insurance provider’s stock valued at $11,495,000 after buying an additional 7,075 shares during the last quarter. Creative Planning raised its stake in Loews Corporation by 3.7% in the first quarter. Creative Planning now owns 5,672 shares of the insurance provider’s stock valued at $265,000 after buying an additional 205 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in Loews Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 87,107 shares of the insurance provider’s stock valued at $4,073,000 after buying an additional 1,020 shares during the last quarter. 58.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Loews Corporation (L) opened at 48.58 on Friday. The stock has a 50 day moving average of $47.69 and a 200 day moving average of $47.07. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 14.36 and a beta of 0.71. Loews Corporation has a 12-month low of $39.71 and a 12-month high of $49.58.
Loews Corporation (NYSE:L) last posted its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.76. The business had revenue of $3.36 billion during the quarter. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. During the same period last year, the firm earned $0.59 EPS. On average, equities analysts expect that Loews Corporation will post $3.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Wednesday, August 30th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, August 28th. Loews Corporation’s dividend payout ratio (DPR) is presently 7.53%.
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Several equities research analysts have recently weighed in on the stock. Jefferies Group LLC reaffirmed a “sell” rating and issued a $35.00 target price on shares of Loews Corporation in a report on Tuesday, June 6th. BidaskClub raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Zacks Investment Research lowered shares of Loews Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 19th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Loews Corporation presently has an average rating of “Hold” and an average price target of $43.33.
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.
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