Assetmark Inc. Grows Stake in Loews Corporation $L

Assetmark Inc. increased its holdings in Loews Corporation (NYSE:L) by 182.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,967 shares of the insurance provider’s stock after buying an additional 1,270 shares during the period. Assetmark Inc.’s holdings in Loews were worth $180,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Loews by 7.2% in the 1st quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider’s stock worth $206,709,000 after acquiring an additional 151,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Loews by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,496,606 shares of the insurance provider’s stock worth $137,553,000 after purchasing an additional 73,197 shares during the last quarter. Hsbc Holdings PLC raised its stake in Loews by 1.3% in 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. Swedbank AB lifted its position in Loews by 44.8% during the first quarter. Swedbank AB now owns 556,350 shares of the insurance provider’s stock valued at $51,134,000 after purchasing an additional 172,004 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Loews by 11.5% in the 1st quarter. BNP Paribas Financial Markets now owns 428,858 shares of the insurance provider’s stock worth $39,416,000 after buying an additional 44,399 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Loews Trading Up 1.0%

Shares of L opened at $102.62 on Friday. 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 price-to-earnings ratio of 16.31 and a beta of 0.73. The firm has a 50 day moving average price of $99.21 and a 200-day moving average price of $93.59. 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 (NYSE:L) last released its earnings results on Monday, November 3rd. The insurance provider reported $2.43 EPS for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The company had revenue of $3.94 billion for the quarter.

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.