Steward Partners Investment Advisory LLC Has $766,000 Stake in Loews Corporation $L

Steward Partners Investment Advisory LLC raised its stake in shares of Loews Corporation (NYSE:L) by 236.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,360 shares of the insurance provider’s stock after purchasing an additional 5,878 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Loews were worth $766,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Elequin Capital LP bought a new position in Loews during the first quarter valued at about $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Loews during the 1st quarter worth approximately $33,000. NewSquare Capital LLC increased its position in shares of Loews by 404.1% during the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 295 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Loews by 14,900.0% in the second quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 447 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new position in shares of Loews in the second quarter valued at $41,000. Institutional investors own 58.33% of the company’s stock.

Insiders Place Their Bets

In related news, Director Walter L. Harris sold 1,442 shares of Loews stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $107.88, for a total value of $155,562.96. Following the completion of the transaction, the director directly owned 24,594 shares of the company’s stock, valued at $2,653,200.72. The trade was a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul J. Fribourg sold 1,442 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $108.13, for a total transaction of $155,923.46. Following the transaction, the director owned 400 shares in the company, valued at approximately $43,252. This trade represents a 78.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 5,770 shares of company stock worth $623,218. 18.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Loews Trading Down 0.1%

Shares of L stock opened at $106.32 on Wednesday. The company has a market capitalization of $21.97 billion, a P/E ratio of 16.90 and a beta of 0.61. Loews Corporation has a 12-month low of $78.98 and a 12-month high of $109.06. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $102.24 and a 200 day moving average price of $95.84.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The company had revenue of $4.67 billion during the quarter.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Loews’s dividend payout ratio (DPR) is currently 3.62%.

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.