Gulf International Bank UK Ltd Decreases Position in Loews Co. (NYSE:L)

Gulf International Bank UK Ltd decreased its position in shares of Loews Co. (NYSE:L) by 3.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,260 shares of the insurance provider’s stock after selling 626 shares during the period. Gulf International Bank UK Ltd’s holdings in Loews were worth $1,206,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Loews by 2.5% during the 1st 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 position in Loews in the first quarter worth about $23,646,000. TD Asset Management Inc grew its stake in shares of Loews by 77.9% during the 2nd quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock valued at $39,307,000 after purchasing an additional 230,231 shares during the period. Bank of Montreal Can lifted its stake in shares of Loews by 106.3% in the 2nd quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider’s stock worth $27,338,000 after purchasing an additional 182,009 shares during the period. Finally, Lee Danner & Bass Inc. purchased a new stake in Loews during the second quarter valued at approximately $13,379,000. Institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of NYSE L opened at $83.11 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 1 year low of $64.97 and a 1 year high of $83.54. The firm has a fifty day moving average price of $79.64 and a 200-day moving average price of $77.86. The stock has a market cap of $18.10 billion, a PE ratio of 11.04 and a beta of 0.82.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group reduced their price target on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st.

Insiders Place Their Bets

In related news, Director Ann E. Berman sold 1,087 shares of the business’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 transaction, the director now directly owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jonathan M. Tisch sold 62,500 shares of the business’s 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 sale, the insider now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now directly owns 4,998 shares in the company, valued at approximately $406,737.24. The trade was a 0.00 % decrease in their position. 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. Corporate insiders own 18.70% of the company’s stock.

About Loews

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.