Cibc World Markets Corp Lifted Holding in Loews Co. (L)

Cibc World Markets Corp Lifted Holding in Loews Co. (L)

Cibc World Markets Corp raised its position in shares of Loews Co. (NYSE:L) by 52.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,811 shares of the insurance provider’s stock after buying an additional 9,862 shares during the period. Cibc World Markets Corp’s holdings in Loews were worth $1,347,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in L. Probity Advisors Inc. bought a new position in Loews during the third quarter worth approximately $245,000. Mraz Amerine & Associates Inc. increased its position in Loews by 1.3% in the third quarter. Mraz Amerine & Associates Inc. now owns 304,024 shares of the insurance provider’s stock worth $12,511,000 after buying an additional 3,903 shares during the period. America First Investment Advisors LLC increased its position in Loews by 3.4% in the third quarter. America First Investment Advisors LLC now owns 238,739 shares of the insurance provider’s stock worth $9,824,000 after buying an additional 7,899 shares during the period. Morgan Stanley increased its position in Loews by 3.0% in the third quarter. Morgan Stanley now owns 576,972 shares of the insurance provider’s stock worth $23,742,000 after buying an additional 16,637 shares during the period. Finally, Commonwealth Bank of Australia increased its position in Loews by 8.5% in the third quarter. Commonwealth Bank of Australia now owns 1,412,693 shares of the insurance provider’s stock worth $58,133,000 after buying an additional 110,791 shares during the period. 58.05% of the stock is owned by institutional investors.

Shares of Loews Co. (NYSE:L) traded down 0.808% on Friday, reaching $47.285. The company’s stock had a trading volume of 491,062 shares. The stock has a market cap of $15.92 billion, a P/E ratio of 18.914 and a beta of 0.73. Loews Co. has a 12 month low of $38.17 and a 12 month high of $48.05. The firm’s 50-day moving average price is $46.59 and its 200-day moving average price is $46.54.

Loews (NYSE:L) last released its quarterly earnings results on Monday, May 1st. The insurance provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.21. Loews had a return on equity of 3.88% and a net margin of 4.82%. The firm had revenue of $3.30 billion for the quarter. During the same period in the previous year, the business earned $0.30 EPS. On average, analysts forecast that Loews Co. will post $3.10 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Wednesday, May 31st will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.52%. Loews’s payout ratio is currently 13.37%.

Separately, Zacks Investment Research downgraded Loews from a “buy” rating to a “hold” rating in a research note on Monday, February 13th.

Loews Company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “L”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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