BlackRock Inc. Has $887.20 Million Holdings in Loews Co. (L)

BlackRock Inc. boosted its holdings in shares of Loews Co. (NYSE:L) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,733,302 shares of the insurance provider’s stock after purchasing an additional 82,323 shares during the period. BlackRock Inc. owned about 0.05% of Loews worth $887,195,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rhumbline Advisers increased its holdings in shares of Loews by 0.9% during the fourth quarter. Rhumbline Advisers now owns 544,453 shares of the insurance provider’s stock worth $27,239,000 after buying an additional 5,122 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Loews by 57.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,807 shares of the insurance provider’s stock worth $391,000 after buying an additional 2,836 shares in the last quarter. Global Financial Private Capital LLC acquired a new stake in shares of Loews during the fourth quarter worth approximately $289,000. Toronto Dominion Bank increased its holdings in shares of Loews by 13.7% during the fourth quarter. Toronto Dominion Bank now owns 119,488 shares of the insurance provider’s stock worth $5,979,000 after buying an additional 14,358 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Loews by 7.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,393,471 shares of the insurance provider’s stock worth $269,835,000 after buying an additional 355,183 shares in the last quarter. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Shares of Loews Co. (NYSE L) opened at $50.34 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.46. The firm has a market cap of $16,309.74, a P/E ratio of 16.99 and a beta of 0.71. Loews Co. has a fifty-two week low of $45.01 and a fifty-two week high of $53.59.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, February 12th. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. The business had revenue of $3.56 billion during the quarter. Loews had a net margin of 8.47% and a return on equity of 4.08%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 EPS. research analysts expect that Loews Co. will post 3.5 EPS for the current year.

The business 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 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, February 27th. Loews’s dividend payout ratio is currently 7.25%.

In other Loews news, insider Jonathan M. Tisch sold 7,800 shares of Loews stock in a transaction on Monday, February 12th. The shares were sold at an average price of $47.51, for a total transaction of $370,578.00. Following the completion of the sale, the insider now owns 2,990,022 shares of the company’s stock, valued at approximately $142,055,945.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann E. Berman sold 1,383 shares of Loews stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $50.30, for a total transaction of $69,564.90. The disclosure for this sale can be found here. In the last three months, insiders sold 34,602 shares of company stock valued at $1,713,813. 11.80% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on L shares. Zacks Investment Research raised shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Friday, January 5th. Desjardins lowered shares of Loews to a “hold” rating and set a $76.00 price objective for the company. in a report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $56.00.

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Loews 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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Institutional Ownership by Quarter for Loews (NYSE:L)

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