DekaBank Deutsche Girozentrale Has $10.15 Million Stake in Loews Corporation (L)
DekaBank Deutsche Girozentrale grew its stake in shares of Loews Corporation (NYSE:L) by 10.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 209,021 shares of the insurance provider’s stock after purchasing an additional 19,343 shares during the period. DekaBank Deutsche Girozentrale owned about 0.06% of Loews Corporation worth $10,151,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Loews Corporation by 6.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 140 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Loews Corporation during the second quarter valued at $131,000. D.A. Davidson & CO. lifted its holdings in shares of Loews Corporation by 1.0% during the second quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 27 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Loews Corporation by 25.4% during the second quarter. Parallel Advisors LLC now owns 3,361 shares of the insurance provider’s stock valued at $164,000 after purchasing an additional 680 shares during the last quarter. Finally, Saratoga Research & Investment Management purchased a new stake in shares of Loews Corporation during the third quarter valued at $176,000. 58.62% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Richard Waldo Scott sold 6,471 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $49.80, for a total transaction of $322,255.80. Following the transaction, the senior vice president now owns 11,250 shares of the company’s stock, valued at approximately $560,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 2,169,075 shares in the company, valued at approximately $104,983,230. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,401,603 shares of company stock worth $67,846,868. Insiders own 11.80% of the company’s stock.
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Shares of Loews Corporation (NYSE:L) traded down $0.49 during trading on Friday, reaching $49.20. The company had a trading volume of 981,100 shares, compared to its average volume of 852,354. The stock has a market cap of $16,510.00, a P/E ratio of 17.25 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 $43.56 and a 1 year high of $49.99.
Loews Corporation (NYSE:L) last announced its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.44. The firm had revenue of $3.52 billion during the quarter. Loews Corporation had a return on equity of 4.08% and a net margin of 7.04%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. research analysts forecast that Loews Corporation will post 2.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Wednesday, November 29th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Tuesday, November 28th. Loews Corporation’s payout ratio is currently 8.68%.
Several equities research analysts have recently commented on the company. BidaskClub raised Loews Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised Loews Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, ValuEngine downgraded Loews Corporation from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.00.
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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