Loews Co. (NYSE:L) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in Loews Co. (NYSE:L) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,346 shares of the insurance provider’s stock after selling 306 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Loews were worth $897,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Private Advisor Group LLC lifted its holdings in shares of Loews by 5.0% during the first quarter. Private Advisor Group LLC now owns 5,306 shares of the insurance provider’s stock worth $415,000 after purchasing an additional 254 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Loews by 8.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,037 shares of the insurance provider’s stock worth $2,273,000 after purchasing an additional 2,358 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Loews by 3.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,003 shares of the insurance provider’s stock worth $392,000 after purchasing an additional 164 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Loews by 6.3% during the first quarter. Nordea Investment Management AB now owns 14,534 shares of the insurance provider’s stock worth $1,138,000 after purchasing an additional 866 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Loews by 10.7% during the first quarter. Daiwa Securities Group Inc. now owns 18,626 shares of the insurance provider’s stock worth $1,458,000 after purchasing an additional 1,793 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Up 2.5 %

Shares of NYSE:L opened at $78.39 on Wednesday. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 11.48 and a beta of 0.82. Loews Co. has a 12-month low of $64.84 and a 12-month high of $83.54. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock’s 50-day moving average price is $79.58 and its two-hundred day moving average price is $77.75.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group cut their price objective on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research report on Friday, July 26th.

Insider Transactions at Loews

In other Loews news, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares in the company, valued at $406,737.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Loews news, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares in the company, valued at $406,737.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the transaction, the insider now directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,587 shares of company stock worth $7,186,460. 18.70% of the stock is currently owned by company insiders.

Loews Company 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.