Smith Partners Wealth Management LLC Acquires New Holdings in Loews Corporation $L

Smith Partners Wealth Management LLC acquired a new position in Loews Corporation (NYSE:L) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 7,500 shares of the insurance provider’s stock, valued at approximately $849,000. Loews accounts for 0.7% of Smith Partners Wealth Management LLC’s holdings, making the stock its 18th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. DV Equities LLC acquired a new position in Loews during the 4th quarter valued at about $25,000. Paladin Partners LLC acquired a new stake in shares of Loews in the 2nd quarter worth approximately $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews in the 3rd quarter worth approximately $30,000. Private Trust Co. NA boosted its holdings in shares of Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 269 shares in the last quarter. Finally, SHP Wealth Management bought a new position in shares of Loews in the fourth quarter valued at approximately $35,000. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In related news, Director Dino Robusto purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $104.74 per share, with a total value of $523,700.00. Following the purchase, the director owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This trade represents a 95.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 19.00% of the stock is owned by company insiders.

Loews Price Performance

Shares of NYSE:L opened at $112.57 on Wednesday. Loews Corporation has a one year low of $94.53 and a one year high of $121.01. The stock has a fifty day moving average of $113.57 and a 200-day moving average of $110.10. The company has a market capitalization of $23.01 billion, a PE ratio of 13.80 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36.

Loews (NYSE:L) last issued its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. The business had revenue of $4.73 billion for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be given a $0.0625 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is 3.06%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

About Loews

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.