AIA Group Ltd Invests $577,000 in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• AIA Group Ltd has acquired a new stake in Lowe's Companies, Inc., investing approximately $577,000 for 2,476 shares.
• Lowe's reported better-than-expected earnings per share of $2.92, beating the consensus estimate of $2.88, despite a 2.0% decline in quarterly revenue year-over-year.
• Dividend increase: Lowe's announced a quarterly dividend of $1.20, up from the previous $1.15, reflecting a commitment to return value to shareholders.

AIA Group Ltd acquired a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,476 shares of the home improvement retailer's stock, valued at approximately $577,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Lowe's Companies by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer's stock worth $12,736,545,000 after buying an additional 230,359 shares during the period. Northern Trust Corp increased its holdings in Lowe's Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after purchasing an additional 993,833 shares during the period. Invesco Ltd. increased its holdings in Lowe's Companies by 10.6% in the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock valued at $1,214,448,000 after purchasing an additional 501,154 shares during the period. Goldman Sachs Group Inc. raised its position in Lowe's Companies by 6.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer's stock worth $1,192,213,000 after purchasing an additional 330,701 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Lowe's Companies by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock valued at $1,242,793,000 after buying an additional 323,371 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the transaction, the executive vice president owned 31,898 shares of the company's stock, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.27% of the stock is currently owned by insiders.

Lowe's Companies Stock Performance

LOW traded down $1.19 during trading on Friday, reaching $251.86. 3,025,751 shares of the company traded hands, compared to its average volume of 2,689,489. The company has a market cap of $141.15 billion, a P/E ratio of 20.87, a PEG ratio of 2.42 and a beta of 0.89. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The firm has a fifty day simple moving average of $226.08 and a 200 day simple moving average of $230.59.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The business had revenue of $20.93 billion for the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter in the previous year, the company earned $3.06 EPS. The business's quarterly revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were paid a $1.20 dividend. The ex-dividend date was Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. Lowe's Companies's payout ratio is 39.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Guggenheim reaffirmed a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a research note on Tuesday, July 22nd. DA Davidson reduced their price objective on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Mizuho reiterated an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a research report on Friday, June 13th. Royal Bank Of Canada cut their target price on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 22nd. Finally, Sanford C. Bernstein set a $266.00 target price on Lowe's Companies and gave the company an "outperform" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Lowe's Companies has a consensus rating of "Moderate Buy" and a consensus price target of $270.68.

Lowe's Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.