Loews Corporation (L) Shares Bought by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans boosted its stake in Loews Corporation (NYSE:L) by 4,388.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 454,642 shares of the insurance provider’s stock after acquiring an additional 444,512 shares during the quarter. Thrivent Financial For Lutherans owned 0.14% of Loews Corporation worth $21,282,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in Loews Corporation by 0.6% during the 2nd quarter. ProShare Advisors LLC now owns 106,910 shares of the insurance provider’s stock worth $5,004,000 after purchasing an additional 629 shares during the last quarter. Laurion Capital Management LP acquired a new stake in Loews Corporation during the 2nd quarter worth $4,339,000. Stevens Capital Management LP boosted its stake in Loews Corporation by 17.5% during the 2nd quarter. Stevens Capital Management LP now owns 116,488 shares of the insurance provider’s stock worth $5,453,000 after purchasing an additional 17,313 shares during the last quarter. Amalgamated Bank boosted its stake in Loews Corporation by 59.6% during the 2nd quarter. Amalgamated Bank now owns 31,282 shares of the insurance provider’s stock worth $1,464,000 after purchasing an additional 11,679 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Loews Corporation by 1.2% during the 2nd quarter. BlackRock Inc. now owns 17,570,706 shares of the insurance provider’s stock worth $822,484,000 after purchasing an additional 212,384 shares during the last quarter. 58.58% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on L shares. 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 set a $35.00 target price 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 given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $43.33.
Shares of Loews Corporation (L) traded up 0.21% during midday trading on Tuesday, reaching $47.60. 103,805 shares of the company’s stock traded hands. The stock’s 50 day moving average is $47.60 and its 200-day moving average is $47.13. Loews Corporation has a 52 week low of $39.71 and a 52 week high of $49.58. The company has a market capitalization of $16.02 billion, a PE ratio of 14.07 and a beta of 0.71.
Loews Corporation (NYSE:L) last announced its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. The business had revenue of $3.36 billion during the quarter. During the same quarter in the prior year, the business earned $0.59 EPS. On average, analysts forecast that Loews Corporation will post $3.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, August 28th. Loews Corporation’s dividend payout ratio is currently 7.53%.
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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