Loews Corporation (L) Position Reduced by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan decreased its position in shares of Loews Corporation (NYSE:L) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,330 shares of the insurance provider’s stock after selling 1,680 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Loews Corporation were worth $2,648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. New York State Common Retirement Fund increased its stake in shares of Loews Corporation by 0.3% during the third quarter. New York State Common Retirement Fund now owns 590,500 shares of the insurance provider’s stock worth $28,261,000 after buying an additional 2,000 shares during the period. Sei Investments Co. increased its stake in shares of Loews Corporation by 0.9% during the third quarter. Sei Investments Co. now owns 451,385 shares of the insurance provider’s stock worth $21,604,000 after buying an additional 3,852 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Loews Corporation by 9.0% during the third quarter. BNP Paribas Arbitrage SA now owns 425,696 shares of the insurance provider’s stock worth $20,374,000 after buying an additional 35,098 shares during the period. FDx Advisors Inc. purchased a new stake in shares of Loews Corporation during the third quarter worth approximately $788,000. Finally, Global X MANAGEMENT CO LLC increased its stake in shares of Loews Corporation by 17.3% during the third quarter. Global X MANAGEMENT CO LLC now owns 11,942 shares of the insurance provider’s stock worth $572,000 after buying an additional 1,761 shares during the period. 58.62% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities research analysts have recently weighed in on L shares. BidaskClub raised Loews Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised Loews Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, ValuEngine downgraded Loews Corporation from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. Loews Corporation has a consensus rating of “Hold” and a consensus price target of $35.00.

In related news, insider Jonathan M. Tisch sold 1,394,935 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the sale, the insider now owns 2,169,075 shares of the company’s stock, valued at $104,983,230. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 1,395,132 shares of company stock valued at $67,524,613. Company insiders own 11.80% of the company’s stock.

Loews Corporation (NYSE:L) traded up $0.38 during trading hours on Tuesday, reaching $49.89. The company’s stock had a trading volume of 1,182,800 shares, compared to its average volume of 849,153. The stock has a market capitalization of $16,666.61, a PE ratio of 17.19 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.35 and a quick ratio of 0.35. Loews Corporation has a 1 year low of $43.37 and a 1 year high of $49.99.

Loews Corporation (NYSE:L) last announced its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.44. Loews Corporation had a return on equity of 4.08% and a net margin of 7.04%. The business had revenue of $3.52 billion during the quarter. During the same quarter in the prior year, the business earned $0.89 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. sell-side analysts anticipate that Loews Corporation will post 2.75 EPS for the current fiscal year.

Loews Corporation 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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