SG Americas Securities LLC boosted its position in shares of Loews Co. (NYSE:L) by 17.0% in the fourth quarter, Holdings Channel reports. The fund owned 52,897 shares of the insurance provider’s stock after purchasing an additional 7,702 shares during the quarter. SG Americas Securities LLC’s holdings in Loews were worth $2,408,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Clean Yield Group acquired a new stake in shares of Loews in the fourth quarter worth $39,000. Focused Wealth Management Inc increased its stake in shares of Loews by 21.1% in the fourth quarter. Focused Wealth Management Inc now owns 2,300 shares of the insurance provider’s stock worth $105,000 after acquiring an additional 400 shares during the period. Whitener Capital Management Inc. acquired a new stake in shares of Loews in the third quarter worth $137,000. Quantamental Technologies LLC acquired a new stake in shares of Loews in the fourth quarter worth $203,000. Finally, Squar Milner Financial Services LLC increased its stake in shares of Loews by 121.0% in the third quarter. Squar Milner Financial Services LLC now owns 4,055 shares of the insurance provider’s stock worth $204,000 after acquiring an additional 2,220 shares during the period. 64.24% of the stock is owned by institutional investors.
Shares of NYSE L opened at $47.47 on Monday. 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 $14.91 billion, a PE ratio of 16.60 and a beta of 0.64. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.52.
In other news, insider Andrew H. Tisch sold 22,916 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $45.10, for a total value of $1,033,511.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles M. Diker sold 664 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $48.48, for a total transaction of $32,190.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,653 shares of company stock worth $1,891,638. Company insiders own 12.30% of the company’s stock.
L has been the topic of several analyst reports. CIBC restated an “average” rating and set a $70.00 price target on shares of Loews in a research report on Thursday, November 15th. Raymond James reiterated a “buy” rating and issued a $66.00 target price on shares of Loews in a research report on Wednesday, November 14th. Finally, Zacks Investment Research upgraded shares of Loews from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Loews has a consensus rating of “Hold” and an average price target of $54.94.
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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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