Chevy Chase Trust Holdings Inc. grew its holdings in shares of Loews Corporation (NYSE:L) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 247,731 shares of the insurance provider’s stock after buying an additional 2,873 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.07% of Loews worth $11,857,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Loews by 6.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock valued at $105,000 after buying an additional 140 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Loews during the second quarter valued at approximately $131,000. D.A. Davidson & CO. raised its holdings in shares of Loews by 1.0% during the second quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after buying an additional 27 shares during the last quarter. Parallel Advisors LLC raised its holdings in Loews by 25.4% during the second quarter. Parallel Advisors LLC now owns 3,361 shares of the insurance provider’s stock worth $164,000 after purchasing an additional 680 shares in the last quarter. Finally, Saratoga Research & Investment Management bought a new stake in Loews during the third quarter worth approximately $176,000. 59.39% of the stock is currently owned by institutional investors.
In other Loews news, insider Jonathan M. Tisch sold 1,394,935 shares of Loews stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total value of $67,514,854.00. Following the transaction, the insider now owns 2,169,075 shares in the company, valued at $104,983,230. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Mark S. Schwartz sold 6,489 shares of Loews stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $50.25, for a total transaction of $326,072.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,420,223 shares of company stock worth $68,779,839. 11.80% of the stock is currently owned by company insiders.
Shares of Loews Corporation (NYSE L) traded down $0.42 during trading hours on Thursday, reaching $49.90. The company had a trading volume of 975,800 shares, compared to its average volume of 861,446. Loews Corporation has a 1 year low of $45.01 and a 1 year high of $51.02. The company has a market capitalization of $16,939.28, a PE ratio of 17.47 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.35 and a current ratio of 0.35.
Loews (NYSE:L) last announced its earnings results on Monday, October 30th. The insurance provider reported $0.46 EPS for the quarter, topping 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%. Loews’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. equities analysts predict that Loews Corporation will post 2.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Wednesday, November 29th were given a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $0.25 annualized dividend and a yield of 0.50%. Loews’s dividend payout ratio (DPR) is 8.90%.
Several equities research analysts recently commented on the company. ValuEngine cut Loews from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. BidaskClub cut Loews from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research raised Loews from a “sell” rating to a “hold” rating in a report on Tuesday.
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.
Receive News & Ratings for Loews Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loews and related companies with MarketBeat.com's FREE daily email newsletter.