St. James Investment Company LLC Trims Holdings in Loews Co. (L)

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St. James Investment Company LLC lessened its position in shares of Loews Co. (NYSE:L) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 975,880 shares of the insurance provider’s stock after selling 89,871 shares during the period. Loews comprises 4.4% of St. James Investment Company LLC’s portfolio, making the stock its 8th largest position. St. James Investment Company LLC’s holdings in Loews were worth $44,422,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Clean Yield Group bought a new position in Loews during the 4th quarter worth approximately $39,000. Focused Wealth Management Inc lifted its holdings in Loews by 21.1% during the 4th quarter. Focused Wealth Management Inc now owns 2,300 shares of the insurance provider’s stock worth $105,000 after buying an additional 400 shares during the last quarter. Whitener Capital Management Inc. bought a new position in Loews during the 3rd quarter worth approximately $137,000. Squar Milner Financial Services LLC raised its position in shares of Loews by 121.0% during the 3rd quarter. Squar Milner Financial Services LLC now owns 4,055 shares of the insurance provider’s stock worth $204,000 after purchasing an additional 2,220 shares during the period. Finally, Dupont Capital Management Corp raised its position in shares of Loews by 173.5% during the 4th quarter. Dupont Capital Management Corp now owns 4,203 shares of the insurance provider’s stock worth $191,000 after purchasing an additional 2,666 shares during the period. 64.24% of the stock is currently owned by institutional investors.

In related news, insider Andrew H. Tisch sold 22,916 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $45.10, for a total value of $1,033,511.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David B. Edelson sold 18,073 shares of the firm’s stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $45.70, for a total value of $825,936.10. Following the completion of the sale, the chief financial officer now owns 17,501 shares in the company, valued at $799,795.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,653 shares of company stock worth $1,891,638. 12.30% of the stock is owned by insiders.

Shares of Loews stock traded up $1.07 on Tuesday, reaching $45.63. 398,622 shares of the company were exchanged, compared to its average volume of 1,078,768. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 15.95 and a beta of 0.64. Loews Co. has a 1-year low of $42.06 and a 1-year high of $53.04.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 11th. The insurance provider reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($1.06). The company had revenue of $3.29 billion for the quarter. Loews had a return on equity of 4.75% and a net margin of 8.94%. During the same quarter last year, the firm earned $0.81 EPS. Sell-side analysts predict that Loews Co. will post 2.75 earnings per share for the current year.

A number of brokerages have recently weighed in on L. Zacks Investment Research cut Loews from a “hold” rating to a “sell” rating in a research report on Thursday, January 17th. CIBC reiterated 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 reiterated a “buy” rating and set a $66.00 price target on shares of Loews in a research report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.94.

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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.

See Also: Back-End Load

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Institutional Ownership by Quarter for Loews (NYSE:L)

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