Loews Corporation (NYSE:L) VP Mark S. Schwartz sold 6,489 shares of Loews stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $50.25, for a total value of $326,072.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Loews Corporation (NYSE L) traded up $0.21 during midday trading on Friday, reaching $50.49. The company’s stock had a trading volume of 1,002,441 shares, compared to its average volume of 855,488. The company has a market cap of $16,950.00, a PE ratio of 17.40 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.35 and a quick ratio of 0.35. Loews Corporation has a 12-month low of $44.68 and a 12-month high of $50.69.
Loews (NYSE:L) last released its earnings results on Monday, October 30th. The insurance provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.44. The firm had revenue of $3.52 billion for the quarter. Loews had a return on equity of 4.08% and a net margin of 7.04%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter 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.
Several research firms have commented on L. Zacks Investment Research cut Loews from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. ValuEngine cut Loews from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, BidaskClub cut Loews from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Loews by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 18,649,024 shares of the insurance provider’s stock worth $872,960,000 after purchasing an additional 391,900 shares during the last quarter. BlackRock Inc. increased its position in shares of Loews 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. Wells Fargo & Company MN increased its position in shares of Loews by 15.9% during the 3rd quarter. Wells Fargo & Company MN now owns 5,038,288 shares of the insurance provider’s stock worth $241,132,000 after purchasing an additional 689,401 shares during the last quarter. Northern Trust Corp increased its position in shares of Loews by 11.8% during the 2nd quarter. Northern Trust Corp now owns 3,582,780 shares of the insurance provider’s stock worth $167,709,000 after purchasing an additional 377,248 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in shares of Loews by 13.3% during the 3rd quarter. TD Asset Management Inc. now owns 1,876,838 shares of the insurance provider’s stock worth $89,825,000 after purchasing an additional 220,154 shares during the last quarter. Hedge funds and other institutional investors own 59.39% of the company’s stock.
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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