Pillar Pacific Capital Management LLC maintained its stake in shares of Loews Co. (NYSE:L) during the first quarter, Holdings Channel reports. The institutional investor owned 4,450 shares of the insurance provider’s stock at the end of the first quarter. Pillar Pacific Capital Management LLC’s holdings in Loews were worth $208,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in L. NN Investment Partners Holdings N.V. increased its stake in shares of Loews by 29.2% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 2,212 shares of the insurance provider’s stock worth $104,000 after buying an additional 500 shares during the last quarter. Focused Wealth Management Inc increased its stake in shares of Loews by 475.0% in the fourth quarter. Focused Wealth Management Inc now owns 2,300 shares of the insurance provider’s stock worth $108,000 after buying an additional 1,900 shares during the last quarter. Cedar Wealth Management LLC increased its stake in shares of Loews by 5.2% in the third quarter. Cedar Wealth Management LLC now owns 3,820 shares of the insurance provider’s stock worth $157,000 after buying an additional 190 shares during the last quarter. Fiera Capital Corp bought a new stake in shares of Loews during the fourth quarter worth about $203,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Loews during the fourth quarter worth about $208,000. 58.05% of the stock is currently owned by institutional investors.
Shares of Loews Co. (NYSE:L) traded up 0.56% during mid-day trading on Friday, hitting $47.01. 705,669 shares of the stock were exchanged. The stock’s 50 day moving average is $46.74 and its 200-day moving average is $45.90. Loews Co. has a 12 month low of $38.17 and a 12 month high of $48.05. The stock has a market cap of $15.83 billion, a PE ratio of 24.36 and a beta of 0.73.
Loews (NYSE:L) last issued its earnings results on Monday, May 1st. The insurance provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.21. The firm had revenue of $3.30 billion for the quarter. Loews had a return on equity of 3.88% and a net margin of 4.82%. During the same quarter in the prior year, the company earned $0.30 EPS. On average, analysts anticipate that Loews Co. will post $3.14 EPS for the current year.
Separately, Zacks Investment Research downgraded shares of Loews from a “buy” rating to a “hold” rating in a report on Monday, February 13th.
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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