Salvus Wealth Management LLC Acquires 165 Shares of Loews Co. (NYSE:L)

Salvus Wealth Management LLC grew its position in Loews Co. (NYSE:L) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,848 shares of the insurance provider’s stock after purchasing an additional 165 shares during the period. Salvus Wealth Management LLC’s holdings in Loews were worth $1,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC bought a new position in Loews in the 4th quarter valued at $26,000. Minot DeBlois Advisors LLC bought a new position in Loews during the fourth quarter valued at about $27,000. Itau Unibanco Holding S.A. increased its holdings in Loews by 387.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider’s stock worth $37,000 after buying an additional 345 shares during the last quarter. NBC Securities Inc. bought a new stake in Loews in the first quarter worth about $40,000. Finally, Human Investing LLC purchased a new position in Loews in the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Loews from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

Loews Stock Down 1.5%

L opened at $88.25 on Thursday. The company has a 50 day moving average of $87.13 and a 200 day moving average of $85.87. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 12 month low of $73.15 and a 12 month high of $92.42. The company has a market cap of $18.51 billion, a PE ratio of 13.79 and a beta of 0.70.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. The company had revenue of $4.49 billion during 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, June 10th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Wednesday, May 28th. Loews’s dividend payout ratio is presently 4.11%.

Insider Transactions at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following the sale, the senior vice president now owns 33,901 shares in the company, valued at approximately $2,980,575.92. This trade represents a 21.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 47,636 shares of Loews stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the sale, the director now directly owns 6,705,529 shares of the company’s stock, valued at $569,165,301.52. This represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,655 shares of company stock valued at $9,069,294. 19.00% of the stock is currently owned by corporate 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.