Loews Co. (NYSE:L) Position Boosted by Amalgamated Bank

Amalgamated Bank grew its holdings in Loews Co. (NYSE:L) by 14.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,612 shares of the insurance provider’s stock after purchasing an additional 7,065 shares during the period. Amalgamated Bank’s holdings in Loews were worth $4,009,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in Loews by 0.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,255,282 shares of the insurance provider’s stock worth $206,092,000 after purchasing an additional 20,277 shares during the last quarter. Northern Trust Corp raised its stake in shares of Loews by 6.3% during the 3rd quarter. Northern Trust Corp now owns 2,236,376 shares of the insurance provider’s stock worth $141,585,000 after purchasing an additional 131,736 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Loews by 2.6% during the 3rd quarter. Royal Bank of Canada now owns 935,189 shares of the insurance provider’s stock worth $59,207,000 after purchasing an additional 23,756 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Loews by 316.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock worth $36,727,000 after purchasing an additional 440,693 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Loews by 34.9% during the 3rd quarter. Barclays PLC now owns 577,591 shares of the insurance provider’s stock worth $36,568,000 after purchasing an additional 149,500 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Down 0.6 %

L opened at $77.31 on Thursday. Loews Co. has a fifty-two week low of $55.94 and a fifty-two week high of $78.55. The business has a 50-day moving average of $76.01 and a 200-day moving average of $71.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $17.18 billion, a PE ratio of 12.27 and a beta of 0.82.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%. The company had revenue of $4.23 billion during the quarter.

Insider Buying and Selling at Loews

In related news, Director Andrew H. Tisch sold 125,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the sale, the director now directly owns 945,886 shares of the company’s stock, valued at approximately $69,087,513.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of Loews stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total value of $542,929.00. Following the transaction, the senior vice president now directly owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the completion of the sale, the director now directly owns 945,886 shares of the company’s stock, valued at $69,087,513.44. The disclosure for this sale can be found here. Insiders have sold a total of 133,276 shares of company stock worth $9,744,273 over the last 90 days. Insiders own 18.70% of the company’s stock.

Loews Profile

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.