Nissay Asset Management Corp Japan ADV increased its holdings in shares of Loews Co. (NYSE:L) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,163 shares of the insurance provider’s stock after buying an additional 2,481 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Loews were worth $966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Voloridge Investment Management LLC purchased a new position in Loews during the 1st quarter worth $1,634,000. Jane Street Group LLC purchased a new position in Loews during the 1st quarter worth $1,069,000. Oppenheimer Asset Management Inc. grew its stake in Loews by 28.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 34,739 shares of the insurance provider’s stock worth $1,210,000 after buying an additional 7,726 shares during the last quarter. Gateway Investment Advisers LLC purchased a new position in Loews during the 1st quarter worth $2,395,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Loews by 4.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,177,520 shares of the insurance provider’s stock worth $41,013,000 after buying an additional 44,837 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.
Several research analysts recently weighed in on L shares. ValuEngine upgraded Loews from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. TheStreet downgraded Loews from a “c” rating to a “d” rating in a research note on Monday, May 4th. Finally, TD Securities boosted their price target on Loews from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Friday, July 24th. Four analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average target price of $66.67.
Loews stock opened at $36.41 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.31 and a current ratio of 0.31. The business’s 50-day simple moving average is $34.63 and its two-hundred day simple moving average is $39.22. The company has a market cap of $10.25 billion, a PE ratio of 17.85 and a beta of 0.75. Loews Co. has a fifty-two week low of $27.33 and a fifty-two week high of $56.88.
Loews (NYSE:L) last posted its quarterly earnings results on Monday, May 4th. The insurance provider reported ($0.25) earnings per share for the quarter. The firm had revenue of $3.10 billion for the quarter. Loews had a negative net margin of 0.66% and a positive return on equity of 2.88%.
In related news, major shareholder Corp Loews acquired 105,187 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $31.77 per share, with a total value of $3,341,790.99. Following the acquisition, the insider now directly owns 242,743,157 shares in the company, valued at approximately $7,711,950,097.89. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders bought 348,093 shares of company stock valued at $11,400,428. Insiders own 15.20% of the company’s stock.
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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