Caisse DE Depot ET Placement DU Quebec reduced its stake in shares of Loews Co. (NYSE:L) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,001 shares of the insurance provider’s stock after selling 11,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Loews were worth $3,852,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in L. Calton & Associates Inc. acquired a new position in Loews during the fourth quarter worth $137,000. Tower Research Capital LLC TRC raised its stake in Loews by 387.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,826 shares of the insurance provider’s stock worth $142,000 after acquiring an additional 2,246 shares in the last quarter. Stuart Chaussee & Associates Inc. acquired a new position in Loews during the fourth quarter worth $167,000. Cerebellum GP LLC acquired a new position in Loews during the fourth quarter worth $196,000. Finally, IBM Retirement Fund acquired a new position in Loews during the third quarter worth $200,000. Hedge funds and other institutional investors own 64.34% of the company’s stock.
L has been the topic of several research analyst reports. Desjardins cut 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 Loews from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Loews presently has a consensus rating of “Hold” and an average target price of $56.00.
Shares of Loews Co. (NYSE:L) opened at $51.51 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market capitalization of $17,340.00, a price-to-earnings ratio of 14.93 and a beta of 0.72. Loews Co. has a 1-year low of $45.01 and a 1-year high of $53.59.
Loews (NYSE:L) last announced its earnings results on Monday, February 12th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.71 by $0.12. The company had revenue of $3.56 billion for the quarter. Loews had a return on equity of 4.08% and a net margin of 8.47%. Loews’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 EPS. research analysts expect that Loews Co. will post 3.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Wednesday, February 28th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.49%. The ex-dividend date is Tuesday, February 27th. Loews’s dividend payout ratio is 7.25%.
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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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