Raymond James & Associates Boosts Stock Holdings in Loews Co. (NYSE:L)

Raymond James & Associates boosted its position in Loews Co. (NYSE:L) by 2.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 39,398 shares of the insurance provider’s stock after purchasing an additional 920 shares during the period. Raymond James & Associates’ holdings in Loews were worth $3,114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Loews by 2.5% in the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock valued at $1,656,376,000 after acquiring an additional 507,513 shares during the last quarter. Swedbank AB purchased a new stake in Loews in the first quarter worth $23,646,000. TD Asset Management Inc raised its stake in shares of Loews by 77.9% in the second quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock valued at $39,307,000 after buying an additional 230,231 shares during the period. Bank of Montreal Can lifted its position in shares of Loews by 106.3% during the 2nd quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider’s stock valued at $27,338,000 after buying an additional 182,009 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of Loews during the 2nd quarter worth $13,379,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on L. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group reduced their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st.

Insider Activity

In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the transaction, the insider now directly owns 461,395 shares of the company’s stock, valued at $37,751,338.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction 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 transaction, the insider now owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the sale, the insider now directly owns 461,395 shares of the company’s stock, valued at $37,751,338.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,587 shares of company stock worth $7,186,460. 18.70% of the stock is owned by company insiders.

Loews Stock Performance

Shares of L opened at $76.51 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market capitalization of $16.80 billion, a price-to-earnings ratio of 11.20 and a beta of 0.82. Loews Co. has a 52-week low of $64.84 and a 52-week high of $83.54. The stock’s 50-day simple moving average is $79.62 and its 200 day simple moving average is $77.73.

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.