Oakbrook Investments LLC increased its holdings in shares of Loews Co. (NYSE:L) by 134.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,350 shares of the insurance provider’s stock after acquiring an additional 12,250 shares during the quarter. Oakbrook Investments LLC’s holdings in Loews were worth $1,099,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CSat Investment Advisory L.P. raised its stake in Loews by 74.4% during the second quarter. CSat Investment Advisory L.P. now owns 837 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 357 shares during the period. Meeder Asset Management Inc. grew its position in Loews by 267.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 883 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 643 shares during the last quarter. Cornerstone Advisors Inc. boosted its holdings in shares of Loews by 23.8% in the second quarter. Cornerstone Advisors Inc. now owns 1,003 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 193 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Loews in the second quarter valued at approximately $74,000. Finally, Captrust Financial Advisors lifted its stake in Loews by 20.8% during the second quarter. Captrust Financial Advisors now owns 1,404 shares of the insurance provider’s stock valued at $77,000 after purchasing an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 62.19% of the company’s stock.
L stock opened at $50.96 on Monday. Loews Co. has a 12-month low of $42.06 and a 12-month high of $56.20. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.51. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 17.94 and a beta of 0.67. The company has a 50 day moving average of $50.14 and a two-hundred day moving average of $51.37.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Loews from a “sell” rating to a “hold” rating and set a $50.00 price target for the company in a research report on Wednesday, August 28th. ValuEngine downgraded shares of Loews from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $65.20.
In related news, VP Marc A. Alpert sold 1,626 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $49.26, for a total value of $80,096.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 14.20% 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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