Great West Life Assurance Co. Can Has $10.10 Million Stake in Loews Corporation (L)
Great West Life Assurance Co. Can decreased its position in shares of Loews Corporation (NYSE:L) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 211,410 shares of the insurance provider’s stock after selling 3,990 shares during the quarter. Great West Life Assurance Co. Can owned about 0.06% of Loews worth $10,098,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in L. Janus Henderson Group PLC raised its position in Loews by 4,046.2% in the second quarter. Janus Henderson Group PLC now owns 1,657,777 shares of the insurance provider’s stock worth $77,601,000 after acquiring an additional 1,617,794 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Loews by 13.1% in the 2nd quarter. Wells Fargo & Company MN now owns 4,348,887 shares of the insurance provider’s stock valued at $203,570,000 after buying an additional 503,117 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in Loews by 4,388.1% during the second quarter. Thrivent Financial For Lutherans now owns 454,642 shares of the insurance provider’s stock worth $21,282,000 after purchasing an additional 444,512 shares during the period. PGGM Investments boosted its position in Loews by 188.9% during the third quarter. PGGM Investments now owns 677,650 shares of the insurance provider’s stock worth $32,432,000 after purchasing an additional 443,056 shares during the period. Finally, Vanguard Group Inc. boosted its position in Loews by 2.1% during the second quarter. Vanguard Group Inc. now owns 18,649,024 shares of the insurance provider’s stock worth $872,960,000 after purchasing an additional 391,900 shares during the period. 59.39% of the stock is owned by institutional investors.
L has been the subject of a number of research analyst reports. ValuEngine lowered Loews from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research lowered Loews from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, BidaskClub lowered Loews from a “hold” rating to a “sell” rating in a report on Thursday, August 24th.
Shares of Loews Corporation (L) traded down $0.54 during midday trading on Wednesday, hitting $50.11. The company had a trading volume of 869,000 shares, compared to its average volume of 857,367. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $17,050.37, a price-to-earnings ratio of 17.59 and a beta of 0.74. Loews Corporation has a twelve month low of $45.01 and a twelve month high of $51.02.
Loews (NYSE:L) last issued its earnings results on Monday, October 30th. The insurance provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.44. The business had revenue of $3.52 billion during the quarter. Loews had a return on equity of 4.08% and a net margin of 7.04%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. equities analysts anticipate that Loews Corporation will post 2.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Wednesday, November 29th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.25 annualized dividend and a yield of 0.50%. Loews’s dividend payout ratio is currently 8.90%.
In other news, VP Mark S. Schwartz sold 6,489 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $50.25, for a total transaction of $326,072.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $48.40, for a total value of $67,514,854.00. Following the sale, the insider now owns 2,169,075 shares in the company, valued at approximately $104,983,230. The disclosure for this sale can be found here. Insiders have sold 1,420,223 shares of company stock valued at $68,779,839 over the last quarter. Corporate insiders own 11.80% of the company’s stock.
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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