Loews Corporation (L) Stake Maintained by Trust Co. of Virginia VA
Trust Co. of Virginia VA maintained its position in Loews Corporation (NYSE:L) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,880 shares of the insurance provider’s stock at the close of the 2nd quarter. Trust Co. of Virginia VA’s holdings in Loews Corporation were worth $697,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Loews Corporation by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 18,257,124 shares of the insurance provider’s stock worth $853,885,000 after purchasing an additional 646,147 shares during the last quarter. BlackRock Inc. grew its stake in shares of Loews Corporation by 2,869.0% in the 1st quarter. BlackRock Inc. now owns 17,358,322 shares of the insurance provider’s stock worth $811,848,000 after purchasing an additional 16,773,671 shares during the last quarter. State Street Corp grew its stake in shares of Loews Corporation by 1.9% in the 1st quarter. State Street Corp now owns 13,162,234 shares of the insurance provider’s stock worth $615,592,000 after purchasing an additional 249,096 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Loews Corporation by 3.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,627,523 shares of the insurance provider’s stock worth $216,614,000 after purchasing an additional 170,355 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Loews Corporation by 13.1% in the 2nd quarter. Wells Fargo & Company MN now owns 4,348,887 shares of the insurance provider’s stock worth $203,570,000 after purchasing an additional 503,117 shares during the last quarter. Institutional investors own 58.59% of the company’s stock.
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Loews Corporation (L) traded up 1.88% on Friday, hitting $45.97. 1,175,290 shares of the stock traded hands. The company’s 50 day moving average price is $47.77 and its 200-day moving average price is $47.14. Loews Corporation has a 12-month low of $39.71 and a 12-month high of $49.58. The stock has a market capitalization of $15.47 billion, a P/E ratio of 13.58 and a beta of 0.71.
Loews Corporation (NYSE:L) last released its earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. The company had revenue of $3.36 billion for the quarter. During the same quarter in the previous year, the company posted $0.59 earnings per share. Analysts predict that Loews Corporation will post $3.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.54%. Loews Corporation’s dividend payout ratio (DPR) is presently 7.53%.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Loews Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. BidaskClub raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a “sell” rating and issued a $35.00 price objective on shares of Loews Corporation in a research note on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price 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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