Summit Global Investments Has $517,000 Stock Holdings in Loews Co. (NYSE:L)

Summit Global Investments decreased its stake in shares of Loews Co. (NYSE:L - Free Report) by 85.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,543 shares of the insurance provider's stock after selling 39,744 shares during the period. Summit Global Investments' holdings in Loews were worth $517,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc grew its position in Loews by 244.0% during the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 266 shares during the period. Eastern Bank purchased a new stake in Loews during the third quarter valued at about $47,000. Kimelman & Baird LLC purchased a new stake in Loews during the second quarter valued at about $45,000. Family Firm Inc. purchased a new stake in Loews during the second quarter valued at about $46,000. Finally, Innealta Capital LLC purchased a new stake in Loews during the second quarter valued at about $51,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Analysts Set New Price Targets

L has been the topic of a number of recent research reports. Jefferies Financial Group reduced their price objective on Loews from $115.00 to $112.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada upgraded Loews to a "moderate buy" rating in a research note on Friday, July 26th.

Loews Stock Up 1.0 %

Loews stock traded up $0.81 during mid-day trading on Monday, hitting $83.92. The company's stock had a trading volume of 139,244 shares, compared to its average volume of 709,017. The company has a market cap of $18.28 billion, a PE ratio of 11.04 and a beta of 0.82. Loews Co. has a 52-week low of $65.70 and a 52-week high of $84.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The firm's 50 day moving average is $79.64 and its 200 day moving average is $77.88.

Insiders Place Their Bets

In related news, Director Ann E. Berman sold 1,087 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now directly owns 4,998 shares in the company, valued at approximately $406,737.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $406,737.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the sale, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,587 shares of company stock valued at $7,186,460 over the last 90 days. 18.70% of the stock is currently owned by company insiders.

About Loews

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.