PNC Financial Services Group Inc. Sells 3,604 Shares of Loews Corporation (L)

PNC Financial Services Group Inc. cut its stake in shares of Loews Corporation (NYSE:L) by 14.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 21,634 shares of the insurance provider’s stock after selling 3,604 shares during the period. PNC Financial Services Group Inc.’s holdings in Loews Corporation were worth $1,012,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Commerce Bank lifted its position in Loews Corporation by 0.3% during the 2nd quarter. Commerce Bank now owns 7,229 shares of the insurance provider’s stock worth $339,000 after acquiring an additional 24 shares in the last quarter. Cleararc Capital Inc. increased its holdings in Loews Corporation by 0.4% during the 1st quarter. Cleararc Capital Inc. now owns 6,744 shares of the insurance provider’s stock worth $315,000 after purchasing an additional 26 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Loews Corporation by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 28,352 shares of the insurance provider’s stock worth $1,327,000 after purchasing an additional 73 shares during the last quarter. Soros Fund Management LLC increased its holdings in Loews Corporation by 1.8% during the 1st quarter. Soros Fund Management LLC now owns 5,600 shares of the insurance provider’s stock worth $262,000 after purchasing an additional 100 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in Loews Corporation by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the insurance provider’s stock worth $800,000 after purchasing an additional 100 shares during the last quarter. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Loews Corporation (NYSE:L) opened at 48.56 on Tuesday. Loews Corporation has a 12-month low of $40.73 and a 12-month high of $49.58. The stock has a market capitalization of $16.35 billion, a P/E ratio of 14.35 and a beta of 0.71. The firm’s 50-day moving average price is $47.39 and its 200 day moving average price is $47.24.

Loews Corporation (NYSE:L) last announced its earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. The firm had revenue of $3.36 billion during the quarter. During the same quarter in the previous year, the company earned $0.59 EPS. Analysts predict that Loews Corporation will post $3.05 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Wednesday, August 30th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Monday, August 28th. This represents a $0.25 annualized dividend and a yield of 0.51%. Loews Corporation’s payout ratio is 7.53%.

Several equities research analysts have issued reports on the company. BidaskClub upgraded Loews Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research downgraded Loews Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $39.00.

TRADEMARK VIOLATION NOTICE: This article was firs

A number of other institutional investors also recently added to or reduced their stakes in the stock. Commerce Bank lifted its position in Loews Corporation by 0.3% during the 2nd quarter. Commerce Bank now owns 7,229 shares of the insurance provider’s stock worth $339,000 after acquiring an additional 24 shares in the last quarter. Cleararc Capital Inc. increased its holdings in Loews Corporation by 0.4% during the 1st quarter. Cleararc Capital Inc. now owns 6,744 shares of the insurance provider’s stock worth $315,000 after purchasing an additional 26 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Loews Corporation by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 28,352 shares of the insurance provider’s stock worth $1,327,000 after purchasing an additional 73 shares during the last quarter. Soros Fund Management LLC increased its holdings in Loews Corporation by 1.8% during the 1st quarter. Soros Fund Management LLC now owns 5,600 shares of the insurance provider’s stock worth $262,000 after purchasing an additional 100 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in Loews Corporation by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the insurance provider’s stock worth $800,000 after purchasing an additional 100 shares during the last quarter. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Loews Corporation (NYSE:L) opened at 48.56 on Tuesday. Loews Corporation has a 12-month low of $40.73 and a 12-month high of $49.58. The stock has a market capitalization of $16.35 billion, a P/E ratio of 14.35 and a beta of 0.71. The firm’s 50-day moving average price is $47.39 and its 200 day moving average price is $47.24.

Loews Corporation (NYSE:L) last announced its earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. The firm had revenue of $3.36 billion during the quarter. During the same quarter in the previous year, the company earned $0.59 EPS. Analysts predict that Loews Corporation will post $3.05 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Wednesday, August 30th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Monday, August 28th. This represents a $0.25 annualized dividend and a yield of 0.51%. Loews Corporation’s payout ratio is 7.53%.

Several equities research analysts have issued reports on the company. BidaskClub upgraded Loews Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research downgraded Loews Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $39.00.

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About Loews Corporation

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.

Institutional Ownership by Quarter for Loews Corporation (NYSE:L)

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