Systematic Financial Management LP trimmed its stake in shares of Loews Co. (NYSE:L) by 27.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 237,332 shares of the insurance provider’s stock after selling 90,427 shares during the period. Systematic Financial Management LP owned about 0.07% of Loews worth $11,803,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of L. Focused Wealth Management Inc boosted its position in Loews by 187.5% during the fourth quarter. Focused Wealth Management Inc now owns 2,300 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 1,500 shares in the last quarter. Calton & Associates Inc. purchased a new position in Loews during the fourth quarter worth approximately $137,000. Tower Research Capital LLC TRC boosted its position 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 purchasing an additional 2,246 shares in the last quarter. Stuart Chaussee & Associates Inc. purchased a new position in Loews during the fourth quarter worth approximately $167,000. Finally, Cerebellum GP LLC purchased a new position in Loews during the fourth quarter worth approximately $196,000. 62.73% of the stock is currently owned by hedge funds and other institutional investors.
L has been the topic of a number of recent analyst reports. Desjardins downgraded Loews to a “hold” rating and set a $76.00 price target on the stock. in a research report on Tuesday, January 30th. Zacks Investment Research downgraded Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, April 17th. ValuEngine downgraded Loews from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. Finally, Citigroup upgraded Loews from a “neutral” rating to a “buy” rating and decreased their target price for the company from $63.10 to $30.70 in a research report on Monday, May 14th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $49.68.
NYSE L opened at $51.29 on Wednesday. Loews Co. has a 1-year low of $45.01 and a 1-year high of $53.59. The company has a market capitalization of $16.42 billion, a PE ratio of 17.93 and a beta of 0.69. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.47.
Loews (NYSE:L) last announced its quarterly earnings data on Monday, April 30th. The insurance provider reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.11. Loews had a return on equity of 4.07% and a net margin of 8.29%. The firm had revenue of $3.58 billion for the quarter. During the same quarter in the previous year, the business posted $0.87 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. research analysts predict that Loews Co. will post 3.5 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Wednesday, May 30th will be given a dividend of $0.0625 per share. The ex-dividend date is Tuesday, May 29th. This represents a $0.25 dividend on an annualized basis and a yield of 0.49%. Loews’s payout ratio is 8.74%.
Loews Company Profile
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States, Canada, the United Kingdom, Continental Europe, and Singapore. The company offers management and professional liability insurance and risk management services, and other specialized property and casualty coverages; commercial surety and fidelity bonds; and warranty and alternative risk services primarily for vehicles and cell phones.
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