Wealth Enhancement Advisory Services LLC Purchases 3,140 Shares of Loews Co. (NYSE:L)

Wealth Enhancement Advisory Services LLC lifted its stake in Loews Co. (NYSE:L - Free Report) by 27.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,486 shares of the insurance provider's stock after purchasing an additional 3,140 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Loews were worth $1,227,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp increased its position in shares of Loews by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider's stock worth $109,067,000 after acquiring an additional 77,386 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Loews in the fourth quarter worth about $440,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Loews during the fourth quarter worth about $425,000. Steward Partners Investment Advisory LLC grew its stake in Loews by 13.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider's stock valued at $206,000 after acquiring an additional 288 shares in the last quarter. Finally, Novem Group purchased a new stake in Loews during the 4th quarter valued at about $678,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 47,636 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the sale, the director now directly owns 6,705,529 shares in the company, valued at $569,165,301.52. This trade represents a 0.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard Waldo Scott sold 9,019 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president now directly owns 33,901 shares of the company's stock, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their position. The disclosure for this sale can be found here. 18.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Loews from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

Loews Price Performance

Shares of NYSE L traded up $0.38 on Wednesday, hitting $88.53. The company's stock had a trading volume of 799,045 shares, compared to its average volume of 724,458. Loews Co. has a 12-month low of $73.15 and a 12-month high of $92.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a 50 day moving average of $86.98 and a 200-day moving average of $85.99. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of 13.83 and a beta of 0.71.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. The business had revenue of $4.49 billion 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Wednesday, May 28th. Loews's dividend payout ratio (DPR) is currently 4.11%.

About Loews

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.