Lafayette Investments Inc. decreased its holdings in shares of Loews Co. (NYSE:L) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,341 shares of the insurance provider’s stock after selling 1,889 shares during the period. Loews makes up about 2.9% of Lafayette Investments Inc.’s portfolio, making the stock its 7th largest position. Lafayette Investments Inc. owned approximately 0.05% of Loews worth $7,299,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clean Yield Group purchased a new stake in shares of Loews in the fourth quarter valued at about $39,000. Focused Wealth Management Inc grew its position in Loews by 21.1% during the fourth quarter. Focused Wealth Management Inc now owns 2,300 shares of the insurance provider’s stock valued at $105,000 after buying an additional 400 shares during the period. Whitener Capital Management Inc. bought a new position in Loews during the third quarter valued at about $137,000. Squar Milner Financial Services LLC grew its position in Loews by 121.0% during the third quarter. Squar Milner Financial Services LLC now owns 4,055 shares of the insurance provider’s stock valued at $204,000 after buying an additional 2,220 shares during the period. Finally, Dupont Capital Management Corp grew its position in Loews by 173.5% during the fourth quarter. Dupont Capital Management Corp now owns 4,203 shares of the insurance provider’s stock valued at $191,000 after buying an additional 2,666 shares during the period. Hedge funds and other institutional investors own 64.24% of the company’s stock.
L traded up $1.07 during trading on Tuesday, hitting $45.63. 398,622 shares of the company traded hands, compared to its average volume of 1,078,768. The firm has a market cap of $14.91 billion, a P/E ratio of 15.95 and a beta of 0.64. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.33 and a current ratio of 0.33. Loews Co. has a one year low of $42.06 and a one year high of $53.04.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Loews from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. CIBC restated an “average” rating and set a $70.00 price target on shares of Loews in a research report on Thursday, November 15th. Finally, Raymond James restated a “buy” rating and set a $66.00 price target on shares of Loews in a research report on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $54.94.
In other Loews news, CFO David B. Edelson sold 18,073 shares of the stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $45.70, for a total transaction of $825,936.10. Following the completion of the transaction, the chief financial officer now owns 17,501 shares in the company, valued at $799,795.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles M. Diker sold 664 shares of the stock in a transaction dated Monday, December 3rd. The stock was 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 90 days, insiders have sold 41,653 shares of company stock valued at $1,891,638. 12.30% of the stock is owned by company insiders.
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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