Loews Co. (NYSE:L) Stock Position Raised by HB Wealth Management LLC

HB Wealth Management LLC lifted its position in Loews Co. (NYSE:L) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,842 shares of the insurance provider’s stock after buying an additional 503 shares during the quarter. HB Wealth Management LLC’s holdings in Loews were worth $749,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in L. Ritholtz Wealth Management raised its holdings in Loews by 13.8% during the fourth quarter. Ritholtz Wealth Management now owns 6,051 shares of the insurance provider’s stock valued at $512,000 after buying an additional 734 shares in the last quarter. Carolina Wealth Advisors LLC increased its holdings in shares of Loews by 2.2% during the 4th quarter. Carolina Wealth Advisors LLC now owns 9,917 shares of the insurance provider’s stock valued at $840,000 after acquiring an additional 210 shares during the last quarter. Foundation Resource Management Inc. raised its stake in shares of Loews by 17.6% in the 4th quarter. Foundation Resource Management Inc. now owns 133,585 shares of the insurance provider’s stock valued at $11,313,000 after acquiring an additional 20,031 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Loews by 16.3% in the 4th quarter. Park Avenue Securities LLC now owns 5,659 shares of the insurance provider’s stock worth $479,000 after purchasing an additional 792 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Loews by 345.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider’s stock worth $25,114,000 after purchasing an additional 229,965 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Trading Up 0.1 %

Shares of NYSE:L opened at $86.38 on Wednesday. Loews Co. has a 52-week low of $71.45 and a 52-week high of $87.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $18.81 billion, a P/E ratio of 11.47 and a beta of 0.83. The stock’s 50-day moving average is $84.48 and its 200-day moving average is $80.99.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.82 EPS for the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%. The company had revenue of $4.47 billion for the quarter.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were given a $0.0625 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s dividend payout ratio is 3.32%.

Insider Transactions at Loews

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the sale, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles M. Diker sold 1,146 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the completion of the sale, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,679 shares of company stock worth $11,134,916. 18.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

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.