National Pension Service Acquires 9,648 Shares of Loews Corporation (L)
National Pension Service lifted its position in shares of Loews Corporation (NYSE:L) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 311,442 shares of the insurance provider’s stock after purchasing an additional 9,648 shares during the period. National Pension Service’s holdings in Loews were worth $15,581,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its stake in shares of Loews by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 27 shares during the last quarter. Saratoga Research & Investment Management acquired a new position in shares of Loews during the 3rd quarter worth about $176,000. Advisor Group Inc. increased its stake in shares of Loews by 31.8% during the 2nd quarter. Advisor Group Inc. now owns 3,923 shares of the insurance provider’s stock worth $183,000 after purchasing an additional 947 shares during the last quarter. IBM Retirement Fund acquired a new position in shares of Loews during the 3rd quarter worth about $200,000. Finally, Beck Mack & Oliver LLC acquired a new position in shares of Loews during the 3rd quarter worth about $201,000. Institutional investors own 59.29% of the company’s stock.
Loews Corporation (NYSE:L) opened at $52.80 on Tuesday. Loews Corporation has a 52 week low of $45.01 and a 52 week high of $52.98. The company has a market cap of $17,676.50, a PE ratio of 18.79 and a beta of 0.74. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.46.
A number of research analysts recently commented on the stock. ValuEngine lowered shares of Loews from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered shares of Loews from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd.
In other Loews news, insider Kenneth I. Siegel sold 1,940 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $49.86, for a total value of $96,728.40. Following the completion of the sale, the insider now owns 11,250 shares of the company’s stock, valued at approximately $560,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the completion of the sale, the insider now directly owns 2,169,075 shares of the company’s stock, valued at approximately $104,983,230. The disclosure for this sale can be found here. Insiders sold a total of 1,422,163 shares of company stock valued at $68,876,567 in the last three months. Insiders own 11.80% of the company’s stock.
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Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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