Loews Co. (L) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its holdings in shares of Loews Co. (NYSE:L) by 1.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,153 shares of the insurance provider’s stock after selling 1,084 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Loews were worth $4,284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Daiwa Securities Group Inc. boosted its stake in Loews by 12.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 9,503 shares of the insurance provider’s stock valued at $473,000 after purchasing an additional 1,050 shares during the period. Advisor Partners LLC boosted its stake in Loews by 18.7% in the 1st quarter. Advisor Partners LLC now owns 6,807 shares of the insurance provider’s stock valued at $339,000 after purchasing an additional 1,074 shares during the period. First Republic Investment Management Inc. boosted its stake in Loews by 6.3% in the 4th quarter. First Republic Investment Management Inc. now owns 18,193 shares of the insurance provider’s stock valued at $911,000 after purchasing an additional 1,080 shares during the period. Gotham Asset Management LLC boosted its stake in Loews by 13.7% in the 4th quarter. Gotham Asset Management LLC now owns 9,034 shares of the insurance provider’s stock valued at $452,000 after purchasing an additional 1,089 shares during the period. Finally, Mutual of America Capital Management LLC boosted its stake in Loews by 3.3% in the 4th quarter. Mutual of America Capital Management LLC now owns 34,341 shares of the insurance provider’s stock valued at $1,718,000 after purchasing an additional 1,093 shares during the period. Institutional investors own 62.73% of the company’s stock.

Shares of NYSE L opened at $51.42 on Tuesday. The firm has a market capitalization of $16.38 billion, a price-to-earnings ratio of 17.98 and a beta of 0.69. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.47. Loews Co. has a fifty-two week low of $45.01 and a fifty-two week high of $53.59.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, April 30th. The insurance provider reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.11. The firm had revenue of $3.58 billion during the quarter. Loews had a return on equity of 4.07% and a net margin of 8.29%. Loews’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. equities research analysts forecast that Loews Co. will post 3.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 12th. Shareholders of record on Wednesday, May 30th will be issued a $0.0625 dividend. The ex-dividend date is Tuesday, May 29th. This represents a $0.25 annualized dividend and a yield of 0.49%. Loews’s dividend payout ratio is presently 8.74%.

In other Loews news, insider Kenneth I. Siegel sold 6,242 shares of Loews stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $50.23, for a total value of $313,535.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.30% of the stock is owned by insiders.

Several analysts recently issued reports on the company. Desjardins downgraded Loews to a “hold” rating and set a $76.00 price target for the company. in a research note on Tuesday, January 30th. Citigroup upgraded Loews from a “neutral” rating to a “buy” rating and reduced their price target for the company from $63.10 to $30.70 in a research note on Monday, May 14th. Zacks Investment Research downgraded Loews from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Finally, ValuEngine cut Loews from a “buy” rating to a “hold” rating in a report on Friday. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $49.68.

About Loews

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.

Institutional Ownership by Quarter for Loews (NYSE:L)

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