L Brands, Inc. (LB) Shares Sold by Cigna Investments Inc. New
Cigna Investments Inc. New cut its position in L Brands, Inc. (NYSE:LB) by 7.2% during the second quarter, Holdings Channel reports. The fund owned 9,321 shares of the specialty retailer’s stock after selling 723 shares during the period. Cigna Investments Inc. New’s holdings in L Brands were worth $502,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of LB. FNY Partners Fund LP purchased a new stake in shares of L Brands during the first quarter worth approximately $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of L Brands during the first quarter worth approximately $142,000. IFP Advisors Inc boosted its stake in shares of L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock worth $148,000 after buying an additional 529 shares during the period. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of L Brands by 11.2% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock worth $200,000 after buying an additional 375 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of L Brands during the first quarter worth approximately $214,000. Institutional investors and hedge funds own 75.20% of the company’s stock.
Shares of L Brands, Inc. (LB) opened at 39.05 on Wednesday. The company’s 50-day moving average price is $45.84 and its 200 day moving average price is $50.19. L Brands, Inc. has a one year low of $39.00 and a one year high of $79.67. The stock has a market capitalization of $11.20 billion, a PE ratio of 10.28 and a beta of 0.62. L Brands also saw unusually large options trading on Monday. Stock traders bought 7,919 put options on the stock. This represents an increase of approximately 320% compared to the average daily volume of 1,885 put options.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.04. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the business posted $0.59 earnings per share. The firm’s revenue was down 6.8% on a year-over-year basis. Analysts anticipate that L Brands, Inc. will post $3.23 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend is Wednesday, August 16th. L Brands’s dividend payout ratio is presently 63.16%.
COPYRIGHT VIOLATION WARNING: This piece of content was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/l-brands-inc-lb-shares-sold-by-cigna-investments-inc-new/1493559.html.
A number of equities research analysts have commented on LB shares. Deutsche Bank AG reduced their price objective on L Brands from $62.00 to $61.00 and set a “buy” rating for the company in a research note on Monday, May 15th. Vetr raised L Brands from a “hold” rating to a “buy” rating and set a $53.02 price objective for the company in a research note on Thursday, May 11th. Oppenheimer Holdings, Inc. set a $62.00 price objective on L Brands and gave the company a “buy” rating in a research note on Thursday, May 4th. Buckingham Research reissued a “buy” rating on shares of L Brands in a research note on Wednesday, April 26th. Finally, FBR & Co set a $60.00 price objective on L Brands and gave the company a “buy” rating in a research note on Thursday, May 18th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company. L Brands currently has a consensus rating of “Hold” and a consensus price target of $55.76.
In other news, CEO Nicholas Coe sold 39,839 shares of L Brands stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the completion of the sale, the chief executive officer now owns 75,658 shares of the company’s stock, valued at $3,698,163.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.45% of the company’s stock.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
Want to see what other hedge funds are holding LB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L Brands, Inc. (NYSE:LB).
Receive News & Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.