Loews Co. (L) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. lessened its holdings in shares of Loews Co. (NYSE:L) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,786 shares of the insurance provider’s stock after selling 6,275 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.07% of Loews worth $9,777,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Loews by 2.0% during the 3rd quarter. BlackRock Inc. now owns 18,192,680 shares of the insurance provider’s stock valued at $913,818,000 after buying an additional 357,382 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Loews by 1.5% during the 3rd quarter. Wells Fargo & Company MN now owns 5,635,278 shares of the insurance provider’s stock valued at $283,059,000 after buying an additional 84,254 shares during the last quarter. Marathon Asset Management LLP lifted its holdings in shares of Loews by 6.6% during the 4th quarter. Marathon Asset Management LLP now owns 2,260,452 shares of the insurance provider’s stock valued at $102,890,000 after buying an additional 140,750 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Loews by 9.8% during the 3rd quarter. Legal & General Group Plc now owns 1,683,870 shares of the insurance provider’s stock valued at $84,538,000 after buying an additional 150,467 shares during the last quarter. Finally, St. James Investment Company LLC lifted its holdings in shares of Loews by 71.1% during the 3rd quarter. St. James Investment Company LLC now owns 1,065,751 shares of the insurance provider’s stock valued at $53,533,000 after buying an additional 442,857 shares during the last quarter. 64.24% of the stock is currently owned by institutional investors.

Several research firms recently weighed in on L. CIBC restated an “average” rating and issued a $70.00 target price on shares of Loews in a report on Thursday, November 15th. Zacks Investment Research upgraded Loews from a “sell” rating to a “hold” rating in a report on Tuesday, January 8th. Finally, Raymond James restated a “buy” rating and issued a $66.00 target price on shares of Loews in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $54.94.

L opened at $45.17 on Monday. Loews Co. has a twelve month low of $42.06 and a twelve month high of $53.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $14.91 billion, a P/E ratio of 15.79 and a beta of 0.64.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, February 11th. The insurance provider reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($1.06). Loews had a return on equity of 4.75% and a net margin of 8.94%. During the same period last year, the business earned $0.81 EPS. Equities analysts expect that Loews Co. will post 2.75 earnings per share for the current year.

In other news, Director Charles M. Diker sold 664 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $48.48, for a total transaction of $32,190.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David B. Edelson sold 18,073 shares of the business’s stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $45.70, for a total value of $825,936.10. Following the sale, the chief financial officer now owns 17,501 shares in the company, valued at $799,795.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,653 shares of company stock valued at $1,891,638. Corporate insiders own 12.30% of the company’s stock.

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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.

Further Reading: Why do companies issue convertible shares?

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Institutional Ownership by Quarter for Loews (NYSE:L)

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