Amalgamated Bank Has $3.08 Million Stock Position in Loews Corporation $L

Amalgamated Bank cut its stake in Loews Corporation (NYSE:L) by 2.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 33,600 shares of the insurance provider’s stock after selling 859 shares during the period. Amalgamated Bank’s holdings in Loews were worth $3,080,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Loews in the 1st quarter worth approximately $34,166,000. Swedbank AB raised its position in shares of Loews by 44.8% in the 1st quarter. Swedbank AB now owns 556,350 shares of the insurance provider’s stock worth $51,134,000 after acquiring an additional 172,004 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Loews by 7.2% in the 1st quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider’s stock valued at $206,709,000 after purchasing an additional 151,428 shares during the period. Millennium Management LLC boosted its position in shares of Loews by 140.4% during the 1st quarter. Millennium Management LLC now owns 251,175 shares of the insurance provider’s stock valued at $23,085,000 after purchasing an additional 146,695 shares in the last quarter. Finally, AustralianSuper Pty Ltd acquired a new stake in Loews during the first quarter worth approximately $11,633,000. Institutional investors own 58.33% of the company’s stock.

Loews Trading Down 0.2%

Shares of Loews stock opened at $99.40 on Tuesday. The stock has a market capitalization of $20.62 billion, a PE ratio of 15.80 and a beta of 0.73. Loews Corporation has a 52 week low of $75.16 and a 52 week high of $103.52. The stock has a 50 day moving average price of $98.81 and a two-hundred day moving average price of $93.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33.

Loews (NYSE:L) last posted its earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b+)” rating on shares of Loews in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

Loews Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.