State of Alaska Department of Revenue lifted its holdings in Loews Co. (NYSE:L) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,094 shares of the insurance provider’s stock after purchasing an additional 7,485 shares during the quarter. State of Alaska Department of Revenue’s holdings in Loews were worth $3,406,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Clean Yield Group bought a new stake in Loews during the fourth quarter worth $39,000. JOYN Advisors Inc. raised its position in Loews by 338.6% during the fourth quarter. JOYN Advisors Inc. now owns 943 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 728 shares in the last quarter. Stamos Capital Partners L.P. bought a new stake in Loews during the fourth quarter worth $53,000. JNBA Financial Advisors bought a new stake in Loews during the fourth quarter worth $55,000. Finally, Captrust Financial Advisors raised its position in Loews by 100.9% during the fourth quarter. Captrust Financial Advisors now owns 1,340 shares of the insurance provider’s stock worth $61,000 after acquiring an additional 673 shares in the last quarter. 65.42% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on L shares. Barclays reaffirmed an “average” rating and set a $72.00 price target on shares of Loews in a research report on Thursday, February 21st. Zacks Investment Research raised shares of Loews from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, Scotiabank reaffirmed an “average” rating and set a $68.00 price target on shares of Loews in a research report on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $59.24.
L stock opened at $49.28 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.33 and a current ratio of 0.33. Loews Co. has a 52 week low of $42.06 and a 52 week high of $53.04. The stock has a market capitalization of $15.04 billion, a P/E ratio of 17.35 and a beta of 0.66.
Loews (NYSE:L) last released its quarterly earnings results on Monday, February 11th. The insurance provider reported ($0.53) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($1.06). Loews had a net margin of 4.52% and a return on equity of 4.16%. The business had revenue of $3.29 billion during the quarter. During the same quarter in the previous year, the business earned $0.81 EPS. On average, analysts predict that Loews Co. will post 3.2 EPS for the current year.
In other news, Director Joseph L. Bower sold 812 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $47.56, for a total value of $38,618.72. Following the completion of the transaction, the director now owns 10,886 shares of the company’s stock, valued at $517,738.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard Waldo Scott sold 4,591 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $47.80, for a total transaction of $219,449.80. Following the completion of the transaction, the senior vice president now directly owns 29,732 shares of the company’s stock, valued at approximately $1,421,189.60. The disclosure for this sale can be found here. Insiders have sold 29,566 shares of company stock worth $1,390,479 over the last quarter. Corporate insiders own 12.30% of the company’s stock.
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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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