Loews Co. (NYSE:L) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC boosted its holdings in Loews Co. (NYSE:L) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,793 shares of the insurance provider’s stock after purchasing an additional 394 shares during the quarter. Wealthspire Advisors LLC’s holdings in Loews were worth $321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in Loews by 10.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock valued at $105,000 after buying an additional 119 shares during the last quarter. Wedmont Private Capital lifted its stake in Loews by 5.2% in the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock valued at $249,000 after buying an additional 151 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in Loews by 2.6% in the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock valued at $477,000 after buying an additional 153 shares during the last quarter. Mather Group LLC. lifted its stake in Loews by 7.7% in the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after buying an additional 161 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its stake in Loews by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after buying an additional 183 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Price Performance

Loews stock opened at $85.84 on Friday. Loews Co. has a 12 month low of $72.91 and a 12 month high of $88.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The business has a 50 day simple moving average of $84.53 and a 200-day simple moving average of $82.34. The stock has a market capitalization of $18.27 billion, a PE ratio of 13.41 and a beta of 0.83.

Loews (NYSE:L) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Insider Transactions at Loews

In related news, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charles M. Diker sold 1,146 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,370 shares of company stock worth $5,309,627 over the last 90 days. 18.70% of the stock is currently owned by insiders.

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.