CORDA Investment Management LLC. Has $16.57 Million Position in Loews Co. (L)

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CORDA Investment Management LLC. lowered its position in shares of Loews Co. (NYSE:L) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 329,941 shares of the insurance provider’s stock after selling 1,462 shares during the quarter. Loews comprises 2.0% of CORDA Investment Management LLC.’s holdings, making the stock its 23rd largest position. CORDA Investment Management LLC.’s holdings in Loews were worth $16,572,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of L. LPL Financial LLC grew its stake in shares of Loews by 110.4% during the first quarter. LPL Financial LLC now owns 12,567 shares of the insurance provider’s stock worth $625,000 after purchasing an additional 6,594 shares in the last quarter. DnB Asset Management AS grew its stake in shares of Loews by 7.6% during the second quarter. DnB Asset Management AS now owns 45,293 shares of the insurance provider’s stock worth $2,187,000 after purchasing an additional 3,200 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of Loews by 44.6% during the second quarter. IFM Investors Pty Ltd now owns 12,703 shares of the insurance provider’s stock worth $613,000 after purchasing an additional 3,920 shares in the last quarter. Hexavest Inc. acquired a new position in shares of Loews during the second quarter worth $10,573,000. Finally, State of Alaska Department of Revenue grew its stake in shares of Loews by 15.6% during the second quarter. State of Alaska Department of Revenue now owns 63,423 shares of the insurance provider’s stock worth $3,061,000 after purchasing an additional 8,560 shares in the last quarter. Hedge funds and other institutional investors own 62.57% of the company’s stock.

In related news, Director Ann E. Berman sold 2,216 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $49.27, for a total value of $109,182.32. Following the completion of the sale, the director now directly owns 1,500 shares of the company’s stock, valued at $73,905. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 12.30% of the stock is owned by insiders.

Separately, Deutsche Bank boosted their target price 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $53.68.

Shares of L opened at $49.44 on Friday. Loews Co. has a 1-year low of $44.78 and a 1-year high of $53.59. The firm has a market capitalization of $15.64 billion, a P/E ratio of 14.73 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.33 and a quick ratio of 0.35.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, November 5th. The insurance provider reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.10). Loews had a net margin of 8.94% and a return on equity of 4.75%. The company had revenue of $3.61 billion during the quarter. During the same period in the previous year, the business posted $0.53 earnings per share. Loews’s revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that Loews Co. will post 3.55 earnings per share for the current fiscal year.

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Loews 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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