Loews Corporation (L) Shares Bought by Swiss National Bank

Swiss National Bank raised its stake in Loews Corporation (NYSE:L) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,054,119 shares of the insurance provider’s stock after acquiring an additional 8,700 shares during the quarter. Swiss National Bank owned about 313,138.76% of Loews Corporation worth $50,450,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in L. Aviva PLC grew its position in shares of Loews Corporation by 2.9% during the 2nd quarter. Aviva PLC now owns 170,632 shares of the insurance provider’s stock worth $7,989,000 after purchasing an additional 4,860 shares in the last quarter. Commonwealth Bank of Australia grew its position in shares of Loews Corporation by 38.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 654,351 shares of the insurance provider’s stock worth $30,627,000 after purchasing an additional 181,616 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Loews Corporation by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the insurance provider’s stock worth $800,000 after purchasing an additional 100 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Loews Corporation during the 2nd quarter worth approximately $1,686,000. Finally, Hosking Partners LLP grew its position in shares of Loews Corporation by 1.7% during the 2nd quarter. Hosking Partners LLP now owns 165,663 shares of the insurance provider’s stock worth $7,755,000 after purchasing an additional 2,731 shares in the last quarter. 58.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Loews Corporation (L) opened at $49.89 on Tuesday. The stock has a market cap of $16,666.61, a P/E ratio of 17.19 and a beta of 0.75. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.46. Loews Corporation has a 52-week low of $43.37 and a 52-week high of $49.99.

Loews Corporation (NYSE:L) last issued its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.44. The business had revenue of $3.52 billion during the quarter. Loews Corporation had a net margin of 7.04% and a return on equity of 4.08%. Loews Corporation’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 EPS. analysts forecast that Loews Corporation will post 2.75 earnings per share for the current fiscal year.

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Several analysts recently issued reports on the stock. BidaskClub lowered shares of Loews Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine lowered shares of Loews Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. Loews Corporation has a consensus rating of “Hold” and a consensus target price of $35.00.

In related news, insider Jonathan M. Tisch sold 1,394,935 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total value of $67,514,854.00. Following the completion of the transaction, the insider now owns 2,169,075 shares of the company’s stock, valued at approximately $104,983,230. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 1,395,132 shares of company stock valued at $67,524,613. 11.80% of the stock is owned by insiders.

Loews Corporation Company Profile

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.

Institutional Ownership by Quarter for Loews Corporation (NYSE:L)

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