Reinhart Partners Inc. Purchases 107,013 Shares of Loews Co. (NYSE:L)

Reinhart Partners Inc. lifted its position in Loews Co. (NYSE:L) by 39.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 378,422 shares of the insurance provider’s stock after purchasing an additional 107,013 shares during the quarter. Loews accounts for approximately 1.8% of Reinhart Partners Inc.’s holdings, making the stock its 26th biggest holding. Reinhart Partners Inc.’s holdings in Loews were worth $19,481,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Advisors Inc. lifted its position in Loews by 23.8% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,003 shares of the insurance provider’s stock worth $55,000 after buying an additional 193 shares in the last quarter. Bessemer Securities LLC lifted its position in Loews by 0.5% during the 2nd quarter. Bessemer Securities LLC now owns 42,415 shares of the insurance provider’s stock valued at $2,319,000 after purchasing an additional 208 shares during the period. M&T Bank Corp lifted its position in Loews by 1.6% during the 2nd quarter. M&T Bank Corp now owns 13,770 shares of the insurance provider’s stock valued at $752,000 after purchasing an additional 214 shares during the period. Parallel Advisors LLC lifted its position in Loews by 8.4% during the 2nd quarter. Parallel Advisors LLC now owns 2,896 shares of the insurance provider’s stock valued at $158,000 after purchasing an additional 224 shares during the period. Finally, World Asset Management Inc lifted its position in Loews by 1.1% during the 2nd quarter. World Asset Management Inc now owns 20,275 shares of the insurance provider’s stock valued at $1,108,000 after purchasing an additional 227 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have issued reports on the stock. TheStreet downgraded shares of Loews from a “b” rating to a “c+” rating in a research report on Monday, October 28th. ValuEngine downgraded shares of Loews from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Loews from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a research report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Loews has a consensus rating of “Hold” and a consensus target price of $65.20.

Loews stock traded down $0.03 during trading hours on Friday, reaching $51.00. 529,165 shares of the company’s stock traded hands, compared to its average volume of 1,054,705. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.33 and a current ratio of 0.33. Loews Co. has a fifty-two week low of $42.06 and a fifty-two week high of $56.20. The firm has a market capitalization of $15.02 billion, a price-to-earnings ratio of 17.96 and a beta of 0.65. The firm’s 50 day moving average is $50.50 and its 200-day moving average is $51.54.

Loews (NYSE:L) last released its earnings results on Monday, October 28th. The insurance provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.51). The business had revenue of $3.68 billion for the quarter. Loews had a net margin of 3.83% and a return on equity of 4.45%. During the same quarter in the previous year, the firm posted $0.84 EPS. Analysts predict that Loews Co. will post 2.95 EPS for the current year.

In related news, VP Marc A. Alpert sold 1,626 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $49.26, for a total value of $80,096.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 14.20% of the company’s stock.

Loews Profile

Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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