Poehling Capital Management LLC lowered its position in Loews Co. (NYSE:L) by 21.5% in the second quarter, HoldingsChannel.com reports. The firm owned 16,065 shares of the insurance provider’s stock after selling 4,405 shares during the period. Poehling Capital Management LLC’s holdings in Loews were worth $776,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Reilly Financial Advisors LLC lifted its position in Loews by 402.4% in the second quarter. Reilly Financial Advisors LLC now owns 2,135 shares of the insurance provider’s stock valued at $103,000 after buying an additional 1,710 shares during the last quarter. Dupont Capital Management Corp lifted its position in Loews by 57.9% in the second quarter. Dupont Capital Management Corp now owns 3,042 shares of the insurance provider’s stock valued at $147,000 after buying an additional 1,116 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Loews in the second quarter valued at about $176,000. Fort Washington Investment Advisors Inc. OH acquired a new position in Loews in the first quarter valued at about $201,000. Finally, Atria Investments LLC acquired a new position in Loews in the first quarter valued at about $206,000. 63.68% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Loews from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Citigroup raised shares of Loews from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $63.10 to $30.70 in a research report on Monday, May 14th. ValuEngine cut shares of Loews from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. Finally, Deutsche Bank increased their price target on shares of Loews from $51.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $53.68.
In related news, VP Marc A. Alpert sold 2,141 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $49.97, for a total value of $106,985.77. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.30% of the stock is owned by company insiders.
Shares of NYSE:L opened at $50.16 on Monday. The company has a market capitalization of $15.83 billion, a P/E ratio of 17.54 and a beta of 0.68. Loews Co. has a fifty-two week low of $45.01 and a fifty-two week high of $53.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.35 and a current ratio of 0.35.
Loews (NYSE:L) last issued its earnings results on Monday, July 30th. The insurance provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The firm had revenue of $3.59 billion for the quarter. Loews had a net margin of 8.15% and a return on equity of 4.11%. During the same period last year, the business earned $0.68 EPS. analysts predict that Loews Co. will post 3.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 11th. Investors of record on Wednesday, August 29th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, August 28th. This represents a $0.25 annualized dividend and a yield of 0.50%. Loews’s dividend payout ratio (DPR) is 8.74%.
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.
Want to see what other hedge funds are holding L? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loews Co. (NYSE:L).
Receive News & Ratings for Loews Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loews and related companies with MarketBeat.com's FREE daily email newsletter.