Loews Corporation (L) Shares Bought by Mutual of America Capital Management LLC
Mutual of America Capital Management LLC raised its stake in shares of Loews Corporation (NYSE:L) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,535 shares of the insurance provider’s stock after purchasing an additional 2,078 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Loews Corporation were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in 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. Parallel Advisors LLC lifted its position in Loews Corporation by 285.2% during the first quarter. Parallel Advisors LLC now owns 2,681 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 1,985 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in Loews Corporation during the second quarter valued at approximately $131,000. Oppenheimer Asset Management Inc. bought a new stake in Loews Corporation during the first quarter valued at approximately $175,000. Finally, CENTRAL TRUST Co lifted its position in Loews Corporation by 2.3% during the second quarter. CENTRAL TRUST Co now owns 5,117 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.
Several brokerages have issued reports on L. 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 lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $39.00.
Loews Corporation (L) opened at 48.92 on Friday. Loews Corporation has a 1-year low of $40.73 and a 1-year high of $49.58. The firm’s 50 day moving average is $47.36 and its 200 day moving average is $47.21. The stock has a market capitalization of $16.47 billion, a P/E ratio of 14.46 and a beta of 0.71.
Loews Corporation (NYSE:L) last posted its earnings results on Monday, July 31st. The insurance provider reported $0.76 EPS for the quarter, meeting analysts’ consensus estimates of $0.76. The firm 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 quarter in the prior year, the company posted $0.59 earnings per share. On average, equities research analysts anticipate that Loews Corporation will post $3.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th were given a dividend of $0.0625 per share. The ex-dividend date was Monday, August 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.51%. Loews Corporation’s dividend payout ratio is currently 7.53%.
Loews Corporation 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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