Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 36 Shares of Loews Corporation (L)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Loews Corporation (NYSE:L) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,512 shares of the insurance provider’s stock after acquiring an additional 36 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Loews Corporation were worth $960,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of L. Thompson Siegel & Walmsley LLC increased its holdings in shares of Loews Corporation by 15.8% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,738,533 shares of the insurance provider’s stock worth $81,380,000 after purchasing an additional 236,690 shares during the period. Hikari Power Ltd bought a new position in shares of Loews Corporation in the second quarter worth $454,000. Swiss National Bank increased its holdings in shares of Loews Corporation by 3.0% in the second quarter. Swiss National Bank now owns 1,045,419 shares of the insurance provider’s stock worth $48,936,000 after purchasing an additional 30,600 shares during the period. Commerce Bank increased its holdings in shares of Loews Corporation by 0.3% in the second quarter. Commerce Bank now owns 7,229 shares of the insurance provider’s stock worth $339,000 after purchasing an additional 24 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Loews Corporation in the second quarter worth $1,686,000. Hedge funds and other institutional investors own 58.59% of the company’s stock.
Loews Corporation (L) opened at 46.88 on Wednesday. The company has a market cap of $15.78 billion, a PE ratio of 13.85 and a beta of 0.71. The company has a 50-day moving average price of $47.73 and a 200-day moving average price of $47.13. Loews Corporation has a 1-year low of $39.71 and a 1-year high of $49.58.
Loews Corporation (NYSE:L) last posted its earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. The firm had revenue of $3.36 billion for the quarter. During the same quarter last year, the firm earned $0.59 earnings per share. On average, analysts expect that Loews Corporation will post $3.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Monday, August 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.53%. Loews Corporation’s dividend payout ratio (DPR) is presently 7.53%.
L has been the topic of several research analyst reports. Zacks Investment Research cut shares of Loews Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 19th. BidaskClub raised Loews Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC reissued a “sell” rating and issued a $35.00 target price on shares of Loews Corporation in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Loews Corporation currently has a consensus rating of “Hold” and a consensus target price of $43.33.
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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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