Resona Asset Management Co. Ltd. Boosts Position in Loews Corporation $L

Resona Asset Management Co. Ltd. lifted its position in Loews Corporation (NYSE:L) by 5.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,481 shares of the insurance provider’s stock after buying an additional 5,106 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Loews were worth $8,557,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Jane Street Group LLC increased its holdings in shares of Loews by 218.1% in the 1st quarter. Jane Street Group LLC now owns 142,050 shares of the insurance provider’s stock worth $13,056,000 after buying an additional 97,391 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in Loews in the first quarter worth $224,000. Advisory Alpha LLC purchased a new position in Loews in the first quarter worth $284,000. American Century Companies Inc. increased its stake in Loews by 7.4% in the first quarter. American Century Companies Inc. now owns 96,249 shares of the insurance provider’s stock valued at $8,846,000 after acquiring an additional 6,660 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Loews by 1.3% during the first quarter. Hsbc Holdings PLC now owns 724,190 shares of the insurance provider’s stock valued at $66,463,000 after purchasing an additional 9,357 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b+)” rating on shares of Loews in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Loews has an average rating of “Buy”.

Loews Price Performance

Shares of L stock opened at $102.62 on Friday. 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 Corporation has a fifty-two week low of $78.98 and a fifty-two week high of $103.52. The firm has a market cap of $21.21 billion, a P/E ratio of 16.31 and a beta of 0.73. The business’s 50 day moving average price is $99.21 and its 200-day moving average price is $93.59.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 EPS for the quarter. The company had revenue of $3.94 billion during the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

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.