Loews Co. (L) Holding Lowered by Vident Investment Advisory LLC

Loews Co. (L) Holding Lowered by Vident Investment Advisory LLC

Vident Investment Advisory LLC reduced its position in shares of Loews Co. (NYSE:L) by 10.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 54,423 shares of the insurance provider’s stock after selling 6,396 shares during the period. Vident Investment Advisory LLC’s holdings in Loews were worth $2,545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in L. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Loews by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,839 shares of the insurance provider’s stock worth $742,000 after buying an additional 51 shares in the last quarter. Cedar Wealth Management LLC boosted its position in Loews by 5.0% in the first quarter. Cedar Wealth Management LLC now owns 4,010 shares of the insurance provider’s stock worth $188,000 after buying an additional 190 shares during the period. Keybank National Association OH boosted its position in Loews by 1.6% in the first quarter. Keybank National Association OH now owns 12,277 shares of the insurance provider’s stock worth $574,000 after buying an additional 193 shares during the period. Pacer Advisors Inc. boosted its position in Loews by 3.3% in the first quarter. Pacer Advisors Inc. now owns 6,345 shares of the insurance provider’s stock worth $297,000 after buying an additional 203 shares during the period. Finally, Creative Planning boosted its position in Loews by 3.7% in the first quarter. Creative Planning now owns 5,672 shares of the insurance provider’s stock worth $265,000 after buying an additional 205 shares during the period. Hedge funds and other institutional investors own 58.05% of the company’s stock.

Loews Co. (L) traded down 0.808% on Friday, reaching $47.285. The company’s stock had a trading volume of 550,949 shares. The firm has a 50 day moving average price of $46.59 and a 200 day moving average price of $46.54. Loews Co. has a 52 week low of $38.17 and a 52 week high of $48.05. The stock has a market capitalization of $15.92 billion, a P/E ratio of 18.914 and a beta of 0.73.

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

The business 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 is Friday, May 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.52%. Loews’s dividend payout ratio (DPR) is presently 13.37%.

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

About Loews

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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