Beacon Financial Group Reduces Stock Position in Loews Co. (NYSE:L)

Beacon Financial Group trimmed its stake in shares of Loews Co. (NYSE:L) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,689 shares of the insurance provider’s stock after selling 1,449 shares during the period. Beacon Financial Group’s holdings in Loews were worth $1,667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in L. Assenagon Asset Management S.A. lifted its stake in shares of Loews by 345.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider’s stock worth $25,114,000 after purchasing an additional 229,965 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Loews by 92.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,484 shares of the insurance provider’s stock worth $37,745,000 after acquiring an additional 229,956 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Loews by 22.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider’s stock worth $44,992,000 after acquiring an additional 105,810 shares during the last quarter. Barclays PLC grew its position in shares of Loews by 13.1% during the 3rd quarter. Barclays PLC now owns 752,380 shares of the insurance provider’s stock valued at $59,473,000 after acquiring an additional 87,259 shares during the period. Finally, State Street Corp grew its position in shares of Loews by 1.0% during the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after acquiring an additional 82,581 shares during the period. Institutional investors own 58.33% of the company’s stock.

Loews Trading Down 1.2 %

Shares of NYSE L opened at $84.88 on Wednesday. Loews Co. has a twelve month low of $72.50 and a twelve month high of $88.29. The firm has a market cap of $18.49 billion, a PE ratio of 11.27 and a beta of 0.83. The business has a fifty day simple moving average of $84.68 and a two-hundred day simple moving average of $81.89. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a report on Tuesday.

Insider Activity

In related news, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the transaction, the director now directly owns 11,939,677 shares in the company, valued at $994,097,507.02. This represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,370 shares of company stock worth $5,218,627. Corporate 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.