Wealthspire Advisors LLC Increases Stake in Loews Co. (NYSE:L)

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in L. Callan Capital LLC raised its holdings in shares of Loews by 44.8% during the 4th quarter. Callan Capital LLC now owns 5,762 shares of the insurance provider’s stock worth $488,000 after acquiring an additional 1,782 shares during the period. VisionPoint Advisory Group LLC purchased a new position in shares of Loews during the 4th quarter worth $211,000. RW Investment Management LLC purchased a new position in shares of Loews during the 4th quarter worth $205,000. Bryn Mawr Capital Management LLC raised its holdings in shares of Loews by 7.9% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 3,400 shares of the insurance provider’s stock worth $274,000 after acquiring an additional 250 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Loews by 100.8% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,831 shares of the insurance provider’s stock worth $917,000 after acquiring an additional 5,437 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other Loews news, Director Andrew H. Tisch sold 7,533 shares of Loews stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the transaction, the director now directly owns 1,568,191 shares of the company’s stock, valued at $132,276,910.85. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders sold a total of 62,370 shares of company stock valued at $5,309,627 in the last three months. 18.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Loews Stock Up 1.9 %

Shares of L opened at $85.84 on Friday. The firm has a market cap of $18.27 billion, a P/E ratio of 13.41 and a beta of 0.83. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.29. The company’s 50-day moving average price is $84.53 and its 200 day moving average price is $82.34. 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 (NYSE:L) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

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

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.