Visionary Asset Management Inc. Increases Holdings in Loews Co. (L)

Visionary Asset Management Inc. raised its position in Loews Co. (NYSE:L) by 7.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,821 shares of the insurance provider’s stock after acquiring an additional 543 shares during the period. Visionary Asset Management Inc.’s holdings in Loews were worth $356,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Reinhart Partners Inc. grew its stake in Loews by 1.0% in the third quarter. Reinhart Partners Inc. now owns 297,887 shares of the insurance provider’s stock valued at $14,963,000 after acquiring an additional 3,080 shares during the period. Securian Asset Management Inc grew its stake in Loews by 6.7% in the third quarter. Securian Asset Management Inc now owns 28,112 shares of the insurance provider’s stock valued at $1,412,000 after acquiring an additional 1,765 shares during the period. Schwerin Boyle Capital Management Inc. grew its stake in Loews by 519.0% in the third quarter. Schwerin Boyle Capital Management Inc. now owns 431,425 shares of the insurance provider’s stock valued at $21,670,000 after acquiring an additional 361,725 shares during the period. Verition Fund Management LLC acquired a new stake in Loews in the second quarter valued at approximately $560,000. Finally, Standard Life Aberdeen plc grew its stake in Loews by 4.9% in the third quarter. Standard Life Aberdeen plc now owns 116,290 shares of the insurance provider’s stock valued at $5,841,000 after acquiring an additional 5,484 shares during the period. 63.30% of the stock is owned by hedge funds and other institutional investors.

L has been the topic of a number of recent research reports. CIBC restated an “average” rating and issued a $70.00 target price on shares of Loews in a report on Thursday, November 15th. Raymond James restated a “buy” rating and issued a $66.00 target price on shares of Loews in a report on Wednesday, November 14th. Finally, Zacks Investment Research upgraded Loews from a “sell” rating to a “hold” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Loews currently has an average rating of “Hold” and a consensus target price of $58.45.

In related news, insider Andrew H. Tisch sold 22,916 shares of Loews stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $45.10, for a total transaction of $1,033,511.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ann E. Berman sold 2,216 shares of Loews stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $49.27, for a total value of $109,182.32. Following the sale, the director now owns 1,500 shares in the company, valued at $73,905. The disclosure for this sale can be found here. Insiders have sold 43,869 shares of company stock worth $2,000,821 over the last quarter. 12.30% of the stock is currently owned by corporate insiders.

Shares of L stock traded up $0.07 during trading hours on Friday, reaching $46.46. The company had a trading volume of 21,967 shares, compared to its average volume of 1,118,888. Loews Co. has a 12 month low of $42.06 and a 12 month high of $53.59. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $14.47 billion, a PE ratio of 16.25 and a beta of 0.67.

Loews (NYSE:L) last posted its earnings results on Monday, November 5th. The insurance provider reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.10). The company had revenue of $3.61 billion during the quarter. Loews had a net margin of 8.94% and a return on equity of 4.75%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. On average, equities research analysts anticipate that Loews Co. will post 3 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Visionary Asset Management Inc. Increases Holdings in Loews Co. (L)” was first reported by Markets Daily and is owned by of Markets Daily. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.themarketsdaily.com/2019/01/11/visionary-asset-management-inc-increases-holdings-in-loews-co-l.html.

Loews Company Profile

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.

See Also: Price to Earnings Ratio (PE) Basics

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).

Institutional Ownership by Quarter for Loews (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.

Leave a Reply