Loews Corporation (NYSE:L) Position Increased by LS Investment Advisors LLC
LS Investment Advisors LLC raised its stake in shares of Loews Corporation (NYSE:L) by 10.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,898 shares of the insurance provider’s stock after buying an additional 3,889 shares during the period. LS Investment Advisors LLC’s holdings in Loews Corporation were worth $1,961,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Thrivent Financial for Lutherans boosted its stake in Loews Corporation by 6.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,650 shares of the insurance provider’s stock valued at $452,000 after buying an additional 600 shares in the last quarter. Numeric Investors LLC boosted its position in shares of Loews Corporation by 7.6% in the fourth quarter. Numeric Investors LLC now owns 8,500 shares of the insurance provider’s stock valued at $398,000 after buying an additional 600 shares during the period. USA Financial Portformulas Corp purchased a new position in shares of Loews Corporation during the fourth quarter valued at about $3,423,000. Teachers Advisors LLC boosted its position 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 during the period. Finally, Kentucky Retirement Systems purchased a new position in shares of Loews Corporation during the fourth quarter valued at about $939,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.
Shares of Loews Corporation (NYSE:L) traded up 0.66% during mid-day trading on Wednesday, hitting $47.55. The stock had a trading volume of 54,170 shares. The stock has a market capitalization of $16.01 billion, a price-to-earnings ratio of 19.02 and a beta of 0.70. The stock’s 50-day moving average price is $47.12 and its 200-day moving average price is $46.81. Loews Corporation has a 12-month low of $39.71 and a 12-month high of $48.39.
Loews Corporation (NYSE:L) last announced its quarterly earnings results on Monday, May 1st. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.21. The company had revenue of $3.30 billion during the quarter. Loews Corporation had a net margin of 6.23% and a return on equity of 4.67%. During the same period last year, the firm earned $0.30 EPS. On average, equities analysts anticipate that Loews Corporation will post $3.13 EPS for the current fiscal year.
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Several equities analysts have recently issued reports on L shares. Jefferies Group LLC reiterated a “sell” rating and set a $35.00 price target on shares of Loews Corporation in a research report on Tuesday, June 6th. BidaskClub upgraded Loews Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Zacks Investment Research cut Loews Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $43.33.
About Loews Corporation
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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