US Bancorp DE Acquires 5,499 Shares of Loews Co. (L)
US Bancorp DE raised its holdings in shares of Loews Co. (NYSE:L) by 23.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,765 shares of the insurance provider’s stock after acquiring an additional 5,499 shares during the period. US Bancorp DE’s holdings in Loews were worth $1,440,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of L. Saratoga Research & Investment Management bought a new position in Loews during the third quarter valued at approximately $176,000. Cerebellum GP LLC bought a new position in shares of Loews in the fourth quarter worth approximately $196,000. IBM Retirement Fund bought a new position in shares of Loews in the third quarter worth approximately $200,000. Beck Mack & Oliver LLC bought a new position in shares of Loews in the third quarter worth approximately $201,000. Finally, Stephens Inc. AR bought a new position in shares of Loews in the third quarter worth approximately $212,000. Institutional investors and hedge funds own 59.82% of the company’s stock.
Several research analysts have recently issued reports on L shares. Desjardins cut shares of Loews to a “hold” rating and set a $76.00 target price on the stock. in a report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Loews from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, ValuEngine cut shares of Loews from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $56.00.
Loews Co. (NYSE:L) opened at $50.08 on Monday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.46. Loews Co. has a fifty-two week low of $45.01 and a fifty-two week high of $53.59. The stock has a market cap of $16,467.57, a P/E ratio of 17.15 and a beta of 0.71.
Loews (NYSE:L) last issued its earnings results on Monday, February 12th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.12. Loews had a net margin of 8.47% and a return on equity of 4.08%. The firm had revenue of $3.56 billion for the quarter. During the same quarter in the prior year, the business posted $0.73 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. research analysts forecast that Loews Co. will post 3.5 EPS for the current fiscal 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 issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Tuesday, February 27th. Loews’s dividend payout ratio is 7.25%.
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Loews 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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