Loews Co. (NYSE:L) Shares Acquired by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A raised its holdings in shares of Loews Co. (NYSE:L) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,100 shares of the insurance provider’s stock after purchasing an additional 700 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Loews were worth $1,536,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of L. Teacher Retirement System of Texas boosted its holdings in Loews by 25.3% in the fourth quarter. Teacher Retirement System of Texas now owns 669,398 shares of the insurance provider’s stock valued at $30,471,000 after purchasing an additional 135,066 shares during the last quarter. MML Investors Services LLC purchased a new stake in Loews in the fourth quarter valued at $373,000. Candriam Luxembourg S.C.A. raised its position in shares of Loews by 6.8% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 42,914 shares of the insurance provider’s stock worth $1,953,000 after acquiring an additional 2,727 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Loews by 160.7% in the first quarter. BNP Paribas Arbitrage SA now owns 246,355 shares of the insurance provider’s stock worth $11,808,000 after acquiring an additional 151,847 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Loews by 178.3% in the first quarter. Envestnet Asset Management Inc. now owns 367,187 shares of the insurance provider’s stock worth $17,599,000 after acquiring an additional 235,245 shares during the period. 62.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of Loews stock traded up $0.07 during mid-day trading on Tuesday, hitting $54.02. The stock had a trading volume of 791,200 shares, compared to its average volume of 1,101,442. The firm’s 50-day simple moving average is $54.37. Loews Co. has a 12-month low of $42.06 and a 12-month high of $56.20. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.51. The company has a market cap of $16.42 billion, a price-to-earnings ratio of 19.02 and a beta of 0.66.

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

A number of brokerages have weighed in on L. Zacks Investment Research downgraded shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $64.50.

In related news, SVP Richard Waldo Scott sold 6,228 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $51.99, for a total transaction of $323,793.72. Following the completion of the transaction, the senior vice president now owns 29,732 shares of the company’s stock, valued at approximately $1,545,766.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph L. Bower sold 706 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $51.71, for a total transaction of $36,507.26. Following the transaction, the director now directly owns 12,845 shares of the company’s stock, valued at approximately $664,214.95. The disclosure for this sale can be found here. In the last three months, insiders sold 36,000 shares of company stock valued at $1,892,556. Corporate insiders own 14.20% of the company’s stock.

Loews Company 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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