Loews Co. (L) Holdings Trimmed by IndexIQ Advisors LLC

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IndexIQ Advisors LLC lessened its holdings in Loews Co. (NYSE:L) by 32.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,690 shares of the insurance provider’s stock after selling 42,781 shares during the quarter. IndexIQ Advisors LLC’s holdings in Loews were worth $4,505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Greenwood Gearhart Inc. lifted its holdings in shares of Loews by 0.5% during the second quarter. Greenwood Gearhart Inc. now owns 189,468 shares of the insurance provider’s stock worth $9,148,000 after purchasing an additional 1,034 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Loews by 5.9% during the second quarter. Oppenheimer & Co. Inc. now owns 18,935 shares of the insurance provider’s stock worth $914,000 after purchasing an additional 1,050 shares during the period. Bank of Hawaii lifted its holdings in shares of Loews by 20.2% during the third quarter. Bank of Hawaii now owns 6,713 shares of the insurance provider’s stock worth $337,000 after purchasing an additional 1,130 shares during the period. Regentatlantic Capital LLC lifted its holdings in shares of Loews by 20.0% during the third quarter. Regentatlantic Capital LLC now owns 8,809 shares of the insurance provider’s stock worth $442,000 after purchasing an additional 1,466 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Loews by 14.4% during the third quarter. Pacer Advisors Inc. now owns 13,820 shares of the insurance provider’s stock worth $694,000 after purchasing an additional 1,744 shares during the period. 63.31% of the stock is owned by institutional investors and hedge funds.

In other Loews news, Director Charles M. Diker sold 664 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $48.48, for a total value of $32,190.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann E. Berman sold 2,216 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 1,500 shares of the company’s stock, valued at $73,905. The disclosure for this sale can be found here. Insiders own 12.30% of the company’s stock.

A number of research firms recently commented on L. CIBC reaffirmed an “average” rating and set a $70.00 target price on shares of Loews in a report on Thursday, November 15th. Raymond James reaffirmed a “buy” rating and set a $66.00 target price on shares of Loews in a report on Wednesday, November 14th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Loews has an average rating of “Hold” and an average price target of $58.45.

Loews stock opened at $45.06 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.33 and a quick ratio of 0.33. Loews Co. has a 52 week low of $44.46 and a 52 week high of $53.59. The stock has a market cap of $14.14 billion, a P/E ratio of 15.76 and a beta of 0.70.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, November 5th. The insurance provider reported $0.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Loews Co. will post 3 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 11th. Shareholders of record on Wednesday, November 28th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Tuesday, November 27th. Loews’s payout ratio is presently 8.74%.

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Loews Company 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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