Credit Agricole S A cut its stake in shares of Loews Corporation (NYSE:L) by 13.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,922 shares of the insurance provider’s stock after selling 11,122 shares during the period. Credit Agricole S A’s holdings in Loews Corporation were worth $3,270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Focused Wealth Management Inc increased its position in shares of Loews Corporation by 475.0% in the fourth quarter. Focused Wealth Management Inc now owns 2,300 shares of the insurance provider’s stock valued at $108,000 after buying an additional 1,900 shares during the last quarter. Private Advisor Group LLC bought a new position in Loews Corporation during the first quarter worth approximately $127,000. Cedar Wealth Management LLC increased its position in Loews Corporation by 5.0% in the first quarter. Cedar Wealth Management LLC now owns 4,010 shares of the insurance provider’s stock worth $188,000 after buying an additional 190 shares in the last quarter. Fiera Capital Corp bought a new position in Loews Corporation during the fourth quarter worth approximately $203,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Loews Corporation during the fourth quarter worth approximately $208,000. 58.79% of the stock is owned by hedge funds and other institutional investors.

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

Loews Corporation (L) traded up 0.19% on Friday, hitting $48.14. 1,577,506 shares of the stock were exchanged. The company’s 50-day moving average is $46.84 and its 200-day moving average is $46.78. Loews Corporation has a 52 week low of $38.17 and a 52 week high of $48.39. The company has a market cap of $16.21 billion, a PE ratio of 19.26 and a beta of 0.71.

Loews Corporation (NYSE:L) last announced its quarterly earnings data on Monday, May 1st. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.21. The firm had revenue of $3.30 billion during the quarter. Loews Corporation had a return on equity of 4.67% and a net margin of 6.23%. During the same period in the prior year, the company posted $0.30 earnings per share. On average, analysts predict that Loews Corporation will post $3.18 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Wednesday, May 31st were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, May 26th. Loews Corporation’s dividend payout ratio is currently 10.25%.

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A number of research analysts have recently commented on L shares. Jefferies Group LLC reaffirmed a “sell” rating and set a $35.00 price objective on shares of Loews Corporation in a research note on Tuesday, June 6th. BidaskClub raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $43.33.

About Loews Corporation

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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