Corton Capital Inc. Acquires New Position in Loews Corporation $L

Corton Capital Inc. acquired a new stake in shares of Loews Corporation (NYSE:L) in the second quarter, HoldingsChannel reports. The fund acquired 2,429 shares of the insurance provider’s stock, valued at approximately $223,000.

A number of other institutional investors have also modified their holdings of the business. iA Global Asset Management Inc. grew its position in shares of Loews by 22.7% during the 2nd quarter. iA Global Asset Management Inc. now owns 6,265 shares of the insurance provider’s stock valued at $574,000 after buying an additional 1,161 shares during the last quarter. Terril Brothers Inc. grew its position in shares of Loews by 48.3% during the 2nd quarter. Terril Brothers Inc. now owns 3,576 shares of the insurance provider’s stock valued at $328,000 after buying an additional 1,165 shares during the last quarter. Simon Quick Advisors LLC acquired a new position in Loews during the 2nd quarter valued at about $209,000. Strs Ohio boosted its stake in Loews by 24.3% during the 2nd quarter. Strs Ohio now owns 42,820 shares of the insurance provider’s stock valued at $3,925,000 after purchasing an additional 8,379 shares during the period. Finally, Assetmark Inc. boosted its stake in Loews by 182.2% during the 2nd quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock valued at $180,000 after purchasing an additional 1,270 shares during the period. Institutional investors own 58.33% of the company’s stock.

Loews Trading Down 0.2%

Loews stock opened at $99.40 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $98.81 and a two-hundred day moving average price of $93.18. The firm has a market capitalization of $20.62 billion, a price-to-earnings ratio of 15.80 and a beta of 0.73. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $103.52.

Loews (NYSE:L) last posted its earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b+)” rating on shares of Loews in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Loews Company 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.