D.A. Davidson & CO. Has $132,000 Position in Loews Corporation (L)
D.A. Davidson & CO. lifted its position in Loews Corporation (NYSE:L) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,828 shares of the insurance provider’s stock after acquiring an additional 27 shares during the period. D.A. Davidson & CO.’s holdings in Loews Corporation were worth $132,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in L. Northwestern Mutual Wealth Management Co. raised its position in shares of Loews Corporation by 6.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 140 shares during the period. Parallel Advisors LLC raised its position in shares of Loews Corporation by 285.2% in the 1st quarter. Parallel Advisors LLC now owns 2,681 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 1,985 shares during the period. Acrospire Investment Management LLC acquired a new stake in shares of Loews Corporation in the 2nd quarter valued at approximately $131,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Loews Corporation in the 1st quarter valued at approximately $175,000. Finally, CENTRAL TRUST Co raised its position in shares of Loews Corporation by 2.3% in the 2nd quarter. CENTRAL TRUST Co now owns 5,117 shares of the insurance provider’s stock valued at $239,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 58.59% of the company’s stock.
L has been the topic of a number of analyst reports. BidaskClub upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research cut Loews Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. Loews Corporation presently has a consensus rating of “Hold” and a consensus target price of $39.00.
Shares of Loews Corporation (NYSE L) opened at 48.56 on Tuesday. The company has a market capitalization of $16.35 billion, a PE ratio of 14.35 and a beta of 0.71. Loews Corporation has a 1-year low of $40.73 and a 1-year high of $49.58. The company’s 50-day moving average price is $47.39 and its 200-day moving average price is $47.24.
Loews Corporation (NYSE:L) last posted its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.76 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.76. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. The company had revenue of $3.36 billion for the quarter. During the same period in the prior year, the firm earned $0.59 earnings per share. On average, equities analysts expect that Loews Corporation will post $3.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Wednesday, August 30th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, August 28th. Loews Corporation’s dividend payout ratio (DPR) is presently 7.53%.
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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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