Loews Corporation (L) Shares Bought by TD Asset Management Inc.
TD Asset Management Inc. lifted its stake in shares of Loews Corporation (NYSE:L) by 13.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,876,838 shares of the insurance provider’s stock after buying an additional 220,154 shares during the quarter. TD Asset Management Inc. owned about 0.56% of Loews Corporation worth $89,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in L. Northwestern Mutual Wealth Management Co. grew its holdings in Loews Corporation by 6.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 140 shares during the period. Acrospire Investment Management LLC purchased a new stake in Loews Corporation in the second quarter worth about $131,000. D.A. Davidson & CO. grew its holdings in Loews Corporation by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 27 shares during the period. Parallel Advisors LLC grew its holdings in Loews Corporation by 25.4% in the second quarter. Parallel Advisors LLC now owns 3,361 shares of the insurance provider’s stock worth $164,000 after purchasing an additional 680 shares during the period. Finally, Saratoga Research & Investment Management purchased a new stake in Loews Corporation in the third quarter worth about $176,000. Institutional investors own 59.05% of the company’s stock.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine downgraded shares of Loews Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, BidaskClub downgraded shares of Loews Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th.
In related news, SVP Richard Waldo Scott sold 6,471 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were 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 in the company, valued at $560,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the transaction, the insider now owns 2,169,075 shares in the company, valued at approximately $104,983,230. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,401,603 shares of company stock worth $67,846,868. Insiders own 11.80% of the company’s stock.
Loews Corporation (NYSE:L) opened at $49.35 on Friday. The stock has a market cap of $16,616.12, a P/E ratio of 17.14 and a beta of 0.75. Loews Corporation has a 52 week low of $44.19 and a 52 week high of $49.99. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.46.
Loews Corporation (NYSE:L) last issued its earnings results 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 for the quarter. Loews Corporation had a net margin of 7.04% and a return on equity of 4.08%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 EPS. research analysts forecast that Loews Corporation will post 2.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.51%. Loews Corporation’s dividend payout ratio is presently 8.90%.
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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