Bellars Harris Wealth Management LLC bought a new stake in shares of Loews Corporation (NYSE:L - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 83,149 shares of the insurance provider's stock, valued at approximately $9,413,000. Loews comprises 1.9% of Bellars Harris Wealth Management LLC's investment portfolio, making the stock its 14th largest position.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC increased its position in shares of Loews by 22.6% during the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider's stock valued at $329,000 after acquiring an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Loews by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider's stock valued at $2,108,000 after acquiring an additional 2,057 shares in the last quarter. Empowered Funds LLC boosted its stake in Loews by 12.2% during the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider's stock valued at $350,000 after purchasing an additional 414 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Loews by 37.5% in the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider's stock worth $1,372,000 after purchasing an additional 4,071 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Loews by 53.5% in the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider's stock worth $656,000 after purchasing an additional 2,493 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.
Insider Buying and Selling at Loews
In related news, Director Dino Robusto bought 5,000 shares of the company's stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the transaction, the director owned 10,235 shares in the company, valued at $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 19.00% of the company's stock.
Loews Trading Up 0.3%
Shares of L stock opened at $113.11 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a fifty day simple moving average of $113.33 and a two-hundred day simple moving average of $109.91. The firm has a market capitalization of $23.12 billion, a PE ratio of 13.86 and a beta of 0.52. Loews Corporation has a 52-week low of $94.36 and a 52-week high of $121.01.
Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 EPS for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.The business had revenue of $4.73 billion for the quarter.
Loews Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Loews's payout ratio is 3.06%.
Analysts Set New Price Targets
Separately, Weiss Ratings raised Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Strong Buy".
View Our Latest Stock Report on Loews
Loews Company Profile
(
Free Report)
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.
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