Reinhart Partners Inc. Raises Stock Position in Loews Co. (NYSE:L)

Reinhart Partners Inc. grew its holdings in Loews Co. (NYSE:L) by 39.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 378,422 shares of the insurance provider’s stock after acquiring an additional 107,013 shares during the period. Loews comprises approximately 1.8% of Reinhart Partners Inc.’s holdings, making the stock its 26th biggest holding. Reinhart Partners Inc. owned about 0.13% of Loews worth $19,481,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Loews by 3.8% in the 2nd quarter. BlackRock Inc. now owns 19,005,207 shares of the insurance provider’s stock valued at $1,039,014,000 after acquiring an additional 700,123 shares during the period. JPMorgan Chase & Co. grew its holdings in Loews by 2.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 17,100,855 shares of the insurance provider’s stock valued at $919,513,000 after purchasing an additional 368,723 shares in the last quarter. Boston Partners grew its holdings in Loews by 0.7% during the 2nd quarter. Boston Partners now owns 4,868,502 shares of the insurance provider’s stock valued at $266,175,000 after purchasing an additional 35,049 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Loews by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 4,654,022 shares of the insurance provider’s stock valued at $254,435,000 after purchasing an additional 42,709 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Loews by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,915,180 shares of the insurance provider’s stock valued at $159,372,000 after purchasing an additional 67,736 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on L shares. Zacks Investment Research raised shares of Loews from a “sell” rating to a “hold” rating and set a $50.00 price target for the company in a report on Wednesday, August 28th. TheStreet lowered shares of Loews from a “b” rating to a “c+” rating in a report on Monday, October 28th. Finally, ValuEngine lowered shares of Loews from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $65.20.

NYSE:L traded down $0.03 during mid-day trading on Friday, hitting $51.00. The stock had a trading volume of 529,165 shares, compared to its average volume of 1,054,705. The stock has a market capitalization of $15.02 billion, a price-to-earnings ratio of 17.96 and a beta of 0.65. The company has a 50 day simple moving average of $50.50 and a 200-day simple moving average of $51.54. Loews Co. has a 52 week low of $42.06 and a 52 week high of $56.20. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.51.

Loews (NYSE:L) last released its quarterly earnings results on Monday, October 28th. The insurance provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.51). Loews had a return on equity of 4.45% and a net margin of 3.83%. The company had revenue of $3.68 billion for the quarter. During the same quarter last year, the business earned $0.84 EPS. As a group, equities research analysts anticipate that Loews Co. will post 2.95 earnings per share for the current year.

In other news, VP Marc A. Alpert sold 1,626 shares of Loews stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $49.26, for a total value of $80,096.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 14.20% of the company’s stock.

Loews Company Profile

Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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