Marathon Asset Management LLP Has $106.47 Million Stake in Loews Co. (L)

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Marathon Asset Management LLP reduced its position in Loews Co. (NYSE:L) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,119,702 shares of the insurance provider’s stock after selling 50,900 shares during the quarter. Loews comprises about 1.3% of Marathon Asset Management LLP’s holdings, making the stock its 27th biggest holding. Marathon Asset Management LLP owned 0.67% of Loews worth $106,470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Reilly Financial Advisors LLC raised its stake in Loews by 402.4% in the second quarter. Reilly Financial Advisors LLC now owns 2,135 shares of the insurance provider’s stock valued at $103,000 after purchasing an additional 1,710 shares in the last quarter. Braun Bostich & Associates Inc. raised its stake in shares of Loews by 1,286.0% during the second quarter. Braun Bostich & Associates Inc. now owns 2,176 shares of the insurance provider’s stock worth $105,000 after acquiring an additional 2,019 shares in the last quarter. Dupont Capital Management Corp raised its stake in shares of Loews by 57.9% during the second quarter. Dupont Capital Management Corp now owns 3,042 shares of the insurance provider’s stock worth $147,000 after acquiring an additional 1,116 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Loews by 385.9% during the second quarter. Federated Investors Inc. PA now owns 3,304 shares of the insurance provider’s stock worth $160,000 after acquiring an additional 2,624 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Loews during the second quarter worth approximately $176,000. 62.57% of the stock is currently owned by institutional investors and hedge funds.

L stock opened at $46.29 on Monday. The company has a market cap of $14.63 billion, a price-to-earnings ratio of 16.19 and a beta of 0.68. Loews Co. has a one year low of $44.78 and a one year high of $53.59. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.52.

In other Loews news, VP Marc A. Alpert sold 2,141 shares of Loews stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $49.97, for a total transaction of $106,985.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.30% of the company’s stock.

Separately, Deutsche Bank lifted their price target on shares of Loews from $51.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $53.68.

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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Institutional Ownership by Quarter for Loews (NYSE:L)

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