Greenwood Capital Associates LLC Sells 222 Shares of Loews Co. (NYSE:L)

Greenwood Capital Associates LLC cut its holdings in Loews Co. (NYSE:L) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,061 shares of the insurance provider’s stock after selling 222 shares during the period. Greenwood Capital Associates LLC’s holdings in Loews were worth $795,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Versant Capital Management Inc grew its stake in shares of Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after buying an additional 266 shares during the period. Eastern Bank purchased a new position in shares of Loews in the 3rd quarter worth approximately $47,000. Kimelman & Baird LLC purchased a new position in shares of Loews in the 2nd quarter worth approximately $45,000. Family Firm Inc. purchased a new position in shares of Loews in the 2nd quarter worth approximately $46,000. Finally, Innealta Capital LLC purchased a new position in shares of Loews in the 2nd quarter worth approximately $51,000. 58.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a report on Friday, July 26th. Jefferies Financial Group lowered their price target on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st.

Insider Buying and Selling at Loews

In other Loews news, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Loews news, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was 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 directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,587 shares of company stock valued at $7,186,460 in the last 90 days. 18.70% of the stock is currently owned by company insiders.

Loews Trading Up 2.5 %

NYSE:L opened at $78.39 on Wednesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $17.21 billion, a PE ratio of 11.48 and a beta of 0.82. The firm’s 50 day moving average is $79.58 and its 200 day moving average is $77.75. Loews Co. has a 12 month low of $64.84 and a 12 month high of $83.54.

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.