Loews Corporation (L) Stake Raised by Tdam USA Inc.
Tdam USA Inc. increased its stake in Loews Corporation (NYSE:L) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,256 shares of the insurance provider’s stock after buying an additional 300 shares during the period. Tdam USA Inc.’s holdings in Loews Corporation were worth $293,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Teachers Advisors LLC increased its stake in shares of Loews Corporation by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 378,606 shares of the insurance provider’s stock valued at $17,730,000 after buying an additional 15,961 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Loews Corporation by 34.0% in the fourth quarter. Macquarie Group Ltd. now owns 20,900 shares of the insurance provider’s stock valued at $979,000 after buying an additional 5,300 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in shares of Loews Corporation by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 245,761 shares of the insurance provider’s stock valued at $11,495,000 after buying an additional 7,075 shares in the last quarter. Creative Planning increased its stake in shares of Loews Corporation by 3.7% in the first quarter. Creative Planning now owns 5,672 shares of the insurance provider’s stock valued at $265,000 after buying an additional 205 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in shares of Loews Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 87,107 shares of the insurance provider’s stock valued at $4,073,000 after buying an additional 1,020 shares in the last quarter. Institutional investors and hedge funds own 58.85% of the company’s stock.
Shares of Loews Corporation (NYSE L) opened at 48.58 on Friday. Loews Corporation has a 12 month low of $39.71 and a 12 month high of $49.58. The stock has a market cap of $16.35 billion, a P/E ratio of 14.36 and a beta of 0.71. The stock’s 50 day moving average is $47.69 and its 200 day moving average is $47.07.
Loews Corporation (NYSE:L) last released its earnings results on Monday, July 31st. The insurance provider reported $0.76 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.76. The company 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 last year, the company posted $0.59 earnings per share. Analysts predict that Loews Corporation will post $3.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, August 28th. Loews Corporation’s dividend payout ratio (DPR) is currently 7.53%.
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Several analysts have recently weighed in on L shares. Jefferies Group LLC restated a “sell” rating and set a $35.00 price objective on shares of Loews Corporation in a research report on Tuesday, June 6th. BidaskClub upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Zacks Investment Research downgraded shares of Loews Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $43.33.
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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