Russell Investments Group Ltd. Has $46.81 Million Position in Loews Corporation (L)
Russell Investments Group Ltd. lessened its holdings in Loews Corporation (NYSE:L) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 978,117 shares of the insurance provider’s stock after selling 91,265 shares during the quarter. Russell Investments Group Ltd. owned 0.29% of Loews Corporation worth $46,806,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Loews Corporation by 37.5% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 93,213 shares of the insurance provider’s stock worth $4,461,000 after purchasing an additional 25,410 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Loews Corporation by 10.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 209,021 shares of the insurance provider’s stock valued at $10,151,000 after acquiring an additional 19,343 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Loews Corporation in the third quarter valued at about $4,376,000. Rhumbline Advisers increased its position in shares of Loews Corporation by 2.5% in the third quarter. Rhumbline Advisers now owns 539,331 shares of the insurance provider’s stock valued at $25,812,000 after acquiring an additional 13,211 shares during the period. Finally, Strategy Asset Managers LLC purchased a new position in shares of Loews Corporation in the third quarter valued at about $2,611,000. Institutional investors own 59.05% of the company’s stock.
A number of equities research analysts have recently weighed in on L shares. BidaskClub lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. ValuEngine lowered shares of Loews Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, Zacks Investment Research lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd.
In other news, SVP Richard Waldo Scott sold 6,471 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 11,250 shares of the company’s stock, valued at $560,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the company’s 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 sale, the insider now directly owns 2,169,075 shares of the company’s stock, valued at $104,983,230. The disclosure for this sale can be found here. Insiders have sold 1,401,603 shares of company stock worth $67,846,868 in the last three months. 11.80% of the stock is currently owned by insiders.
Shares of Loews Corporation (NYSE:L) opened at $49.22 on Monday. The firm has a market cap of $16,570.00, a PE ratio of 17.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.35 and a current ratio of 0.35. Loews Corporation has a 52 week low of $43.70 and a 52 week high of $49.99.
Loews Corporation (NYSE:L) last announced its earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. sell-side analysts forecast that Loews Corporation will post 2.75 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Wednesday, November 29th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.51%. The ex-dividend date is Tuesday, November 28th. Loews Corporation’s payout ratio is currently 8.68%.
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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