Ontario Teachers Pension Plan Board Sells 1,397 Shares of Loews Co. (L)
Ontario Teachers Pension Plan Board lowered its stake in Loews Co. (NYSE:L) by 0.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 193,756 shares of the insurance provider’s stock after selling 1,397 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Loews were worth $9,694,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc grew its stake in shares of Loews by 3.4% in the third quarter. Legal & General Group Plc now owns 1,542,196 shares of the insurance provider’s stock valued at $73,811,000 after buying an additional 50,182 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in Loews by 2.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,787,145 shares of the insurance provider’s stock valued at $85,533,000 after purchasing an additional 48,612 shares in the last quarter. Westpac Banking Corp grew its stake in Loews by 29.1% during the 3rd quarter. Westpac Banking Corp now owns 21,183 shares of the insurance provider’s stock valued at $1,014,000 after purchasing an additional 4,778 shares in the last quarter. Bessemer Group Inc. grew its stake in Loews by 106.5% during the 3rd quarter. Bessemer Group Inc. now owns 125,733 shares of the insurance provider’s stock valued at $6,018,000 after purchasing an additional 64,852 shares in the last quarter. Finally, TD Asset Management Inc. grew its stake in Loews by 13.3% during the 3rd quarter. TD Asset Management Inc. now owns 1,876,838 shares of the insurance provider’s stock valued at $89,825,000 after purchasing an additional 220,154 shares in the last quarter. Institutional investors and hedge funds own 59.82% of the company’s stock.
A number of equities research analysts have weighed in on the company. Desjardins lowered Loews to a “hold” rating and set a $76.00 price objective for the company. in a research note on Tuesday, January 30th. ValuEngine lowered Loews from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, Zacks Investment Research upgraded Loews from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $56.00.
Loews Co. (NYSE L) opened at $49.89 on Wednesday. The company has a market capitalization of $16,467.57, a P/E ratio of 14.46 and a beta of 0.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 12-month low of $45.01 and a 12-month high of $53.59.
Loews (NYSE:L) last issued its earnings results on Monday, February 12th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.71 by $0.12. The company had revenue of $3.56 billion during the quarter. Loews had a return on equity of 4.08% and a net margin of 8.47%. Loews’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. research analysts expect that Loews Co. will post 3.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Wednesday, February 28th will be given a $0.0625 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.50%. Loews’s payout ratio is 7.25%.
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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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