Raymond James & Associates Has $3.11 Million Holdings in Loews Co. (NYSE:L)

Raymond James & Associates grew its position in shares of Loews Co. (NYSE:L) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,398 shares of the insurance provider’s stock after acquiring an additional 920 shares during the quarter. Raymond James & Associates’ holdings in Loews were worth $3,114,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in Loews by 240.5% during the third quarter. Blue Trust Inc. now owns 2,360 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,667 shares during the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of Loews by 11.4% in the third quarter. Aaron Wealth Advisors LLC now owns 3,372 shares of the insurance provider’s stock valued at $267,000 after buying an additional 344 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Loews by 1.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,060 shares of the insurance provider’s stock worth $1,744,000 after acquiring an additional 412 shares during the period. Regent Peak Wealth Advisors LLC acquired a new position in shares of Loews during the 3rd quarter worth approximately $213,000. Finally, Swedbank AB boosted its position in Loews by 8.8% during the third quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock worth $30,011,000 after purchasing an additional 30,600 shares during the period. 58.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Loews news, insider Jonathan M. Tisch sold 62,500 shares of the firm’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 transaction of $5,052,500.00. Following the completion of the transaction, the insider now owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jonathan M. Tisch sold 62,500 shares of Loews stock in a transaction dated Thursday, September 5th. The stock was 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 of the company’s stock, valued at approximately $548,227,292.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 directly owns 4,998 shares in the company, valued at $406,737.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,587 shares of company stock valued at $7,186,460. 18.70% of the stock is currently owned by company insiders.

Loews Price Performance

Shares of L opened at $76.51 on Tuesday. The business has a 50-day simple moving average of $79.62 and a two-hundred day simple moving average of $77.73. Loews Co. has a 12-month low of $64.84 and a 12-month high of $83.54. The stock has a market cap of $16.80 billion, a PE ratio of 11.20 and a beta of 0.82. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on L. Jefferies Financial Group decreased their price objective on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research report on Friday, July 26th.

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.