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.
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.
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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.
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