Loews Corporation (L) Position Boosted by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC increased its position in shares of Loews Corporation (NYSE:L) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 105,752 shares of the insurance provider’s stock after purchasing an additional 5,500 shares during the period. Nisa Investment Advisors LLC’s holdings in Loews were worth $5,291,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in L. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Loews by 6.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 140 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of Loews by 6.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,779 shares of the insurance provider’s stock worth $411,000 after purchasing an additional 556 shares during the period. Teachers Advisors LLC lifted its holdings in Loews by 4.5% during the 2nd quarter. Teachers Advisors LLC now owns 422,475 shares of the insurance provider’s stock valued at $19,776,000 after buying an additional 18,313 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Loews by 1.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 996,609 shares of the insurance provider’s stock valued at $46,617,000 after buying an additional 14,036 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its holdings in Loews by 6.9% during the 2nd quarter. Nationwide Fund Advisors now owns 207,810 shares of the insurance provider’s stock valued at $9,728,000 after buying an additional 13,500 shares in the last quarter. 59.29% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Mark S. Schwartz sold 6,489 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $50.25, for a total value of $326,072.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann E. Berman sold 1,383 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $50.30, for a total transaction of $69,564.90. The disclosure for this sale can be found here. Insiders have sold a total of 1,422,163 shares of company stock valued at $68,876,567 in the last quarter. 11.80% of the stock is currently owned by company insiders.
Loews (NYSE:L) last announced its quarterly earnings data 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 had a net margin of 7.04% and a return on equity of 4.08%. The company had revenue of $3.52 billion during the quarter. During the same quarter in the previous year, the business earned $0.89 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. equities analysts forecast that Loews Corporation will post 2.8 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Friday, January 5th. ValuEngine lowered shares of Loews from a “buy” rating to a “hold” rating in a report on Thursday, October 26th.
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Loews 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.
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