Loews Co. (NYSE:L) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund decreased its holdings in shares of Loews Co. (NYSE:L) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,791 shares of the insurance provider’s stock after selling 3,630 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Loews were worth $3,925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marathon Asset Management LLP increased its stake in shares of Loews by 2.2% during the 2nd quarter. Marathon Asset Management LLP now owns 2,382,046 shares of the insurance provider’s stock worth $130,224,000 after purchasing an additional 50,391 shares in the last quarter. FOURPOINTS Investment Managers S.A.S. boosted its position in Loews by 13.5% during the second quarter. FOURPOINTS Investment Managers S.A.S. now owns 117,800 shares of the insurance provider’s stock worth $6,440,000 after acquiring an additional 14,000 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in Loews by 6.3% during the second quarter. Crossmark Global Holdings Inc. now owns 51,201 shares of the insurance provider’s stock worth $2,799,000 after acquiring an additional 3,034 shares during the last quarter. O Keefe Stevens Advisory Inc. boosted its position in Loews by 2.2% during the second quarter. O Keefe Stevens Advisory Inc. now owns 157,171 shares of the insurance provider’s stock worth $8,593,000 after acquiring an additional 3,397 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A boosted its position in Loews by 2.6% during the second quarter. OLD Point Trust & Financial Services N A now owns 28,100 shares of the insurance provider’s stock worth $1,536,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

In other news, insider David B. Edelson sold 2,899 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $51.99, for a total value of $150,719.01. Following the transaction, the insider now owns 26,927 shares of the company’s stock, valued at approximately $1,399,934.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth I. Siegel sold 11,037 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $53.18, for a total transaction of $586,947.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,233 shares of company stock worth $1,649,678. 14.20% of the stock is owned by company insiders.

Shares of L traded down $0.64 during mid-day trading on Friday, reaching $52.23. The company had a trading volume of 8,819 shares, compared to its average volume of 782,939. The firm has a market capitalization of $16.08 billion, a PE ratio of 18.54 and a beta of 0.66. The company’s fifty day simple moving average is $54.50. Loews Co. has a fifty-two week low of $42.06 and a fifty-two week high of $56.20. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.34 and a current ratio of 0.34.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $1.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.31. The company had revenue of $3.76 billion for the quarter. Loews had a net margin of 5.17% and a return on equity of 4.72%. During the same quarter last year, the business earned $0.80 EPS. On average, equities research analysts expect that Loews Co. will post 3.35 EPS for the current fiscal year.

A number of analysts recently issued reports on L shares. Zacks Investment Research upgraded shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Tuesday, May 7th. ValuEngine lowered shares of Loews from a “buy” rating to a “hold” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $66.60.

Loews Profile

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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Institutional Ownership by Quarter for Loews (NYSE:L)

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