State Treasurer State of Michigan lessened its stake in shares of Loews Corporation (NYSE:L) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,885 shares of the insurance provider’s stock after selling 2,900 shares during the period. State Treasurer State of Michigan’s holdings in Loews were worth $4,047,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in L. FMR LLC grew its stake in shares of Loews by 1.4% in the second quarter. FMR LLC now owns 355,649 shares of the insurance provider’s stock worth $16,649,000 after acquiring an additional 5,039 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Loews by 31.8% in the second quarter. Advisor Group Inc. now owns 3,923 shares of the insurance provider’s stock worth $183,000 after acquiring an additional 947 shares during the last quarter. Virtu KCG Holdings LLC grew its stake in shares of Loews by 13.7% in the second quarter. Virtu KCG Holdings LLC now owns 9,087 shares of the insurance provider’s stock worth $425,000 after acquiring an additional 1,092 shares during the last quarter. Numeric Investors LLC grew its stake in shares of Loews by 44.8% in the second quarter. Numeric Investors LLC now owns 16,800 shares of the insurance provider’s stock worth $786,000 after acquiring an additional 5,200 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Loews by 1.5% in the second quarter. Stifel Financial Corp now owns 28,599 shares of the insurance provider’s stock worth $1,339,000 after acquiring an additional 426 shares during the last quarter. Institutional investors own 59.45% of the company’s stock.
In other news, SVP Richard Waldo Scott sold 6,471 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $49.80, for a total value of $322,255.80. Following the completion of the sale, the senior vice president now directly owns 11,250 shares in the company, valued at $560,250. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ann E. Berman sold 1,383 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $50.30, for a total value of $69,564.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,031 shares of company stock valued at $1,351,955. Company insiders own 11.80% of the company’s stock.
Loews Corporation (NYSE:L) opened at $47.86 on Thursday. The stock has a market capitalization of $16,094.34, a price-to-earnings ratio of 16.60 and a beta of 0.71. Loews Corporation has a twelve month low of $45.01 and a twelve month high of $53.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.35 and a current ratio of 0.35.
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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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