QUANTRES ASSET MANAGEMENT Ltd Invests $286,000 in Loews Co. (L)

QUANTRES ASSET MANAGEMENT Ltd purchased a new position in Loews Co. (NYSE:L) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 5,700 shares of the insurance provider’s stock, valued at approximately $286,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LPL Financial LLC increased its stake in shares of Loews by 110.4% in the first quarter. LPL Financial LLC now owns 12,567 shares of the insurance provider’s stock worth $625,000 after acquiring an additional 6,594 shares during the period. Suntrust Banks Inc. grew its position in Loews by 4.8% during the first quarter. Suntrust Banks Inc. now owns 34,560 shares of the insurance provider’s stock valued at $1,717,000 after buying an additional 1,591 shares during the period. DnB Asset Management AS grew its position in Loews by 7.6% during the second quarter. DnB Asset Management AS now owns 45,293 shares of the insurance provider’s stock valued at $2,187,000 after buying an additional 3,200 shares during the period. IFM Investors Pty Ltd grew its position in Loews by 44.6% during the second quarter. IFM Investors Pty Ltd now owns 12,703 shares of the insurance provider’s stock valued at $613,000 after buying an additional 3,920 shares during the period. Finally, Hexavest Inc. acquired a new stake in Loews during the second quarter valued at $10,573,000. 62.52% of the stock is owned by institutional investors and hedge funds.

In other news, VP Marc A. Alpert sold 2,141 shares of Loews stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $49.97, for a total value of $106,985.77. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.30% of the stock is owned by company insiders.

Separately, Deutsche Bank raised their price target on shares of Loews from $51.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $53.68.

Shares of NYSE L opened at $46.56 on Thursday. Loews Co. has a 52-week low of $44.78 and a 52-week high of $53.59. The stock has a market capitalization of $14.57 billion, a PE ratio of 15.69 and a beta of 0.65. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.52.

Loews (NYSE:L) last announced its earnings results on Monday, July 30th. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. Loews had a net margin of 8.15% and a return on equity of 4.11%. The business had revenue of $3.59 billion for the quarter. During the same quarter last year, the business earned $0.68 EPS. Research analysts predict that Loews Co. will post 3.55 earnings per share for the current fiscal year.

About Loews

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.

Further Reading: Average Daily Trade Volume – ADTV

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Institutional Ownership by Quarter for Loews (NYSE:L)

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