Stephens Inc. AR Invests $217,000 in Loews Co. (NYSE:L)

Stephens Inc. AR acquired a new position in shares of Loews Co. (NYSE:LGet Rating) in the first quarter, HoldingsChannel.com reports. The firm acquired 3,343 shares of the insurance provider’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Ellevest Inc. raised its holdings in shares of Loews by 58.1% in the 1st quarter. Ellevest Inc. now owns 427 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 157 shares during the period. Kestra Advisory Services LLC raised its holdings in Loews by 5.1% in the 1st quarter. Kestra Advisory Services LLC now owns 3,698 shares of the insurance provider’s stock valued at $240,000 after acquiring an additional 179 shares during the period. Commerce Bank raised its holdings in Loews by 3.3% in the 4th quarter. Commerce Bank now owns 6,262 shares of the insurance provider’s stock valued at $362,000 after acquiring an additional 199 shares during the period. Kentucky Retirement Systems raised its holdings in Loews by 1.9% in the 4th quarter. Kentucky Retirement Systems now owns 12,053 shares of the insurance provider’s stock valued at $696,000 after acquiring an additional 228 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Loews by 1.1% in the 4th quarter. CIBC Asset Management Inc now owns 22,075 shares of the insurance provider’s stock valued at $1,275,000 after acquiring an additional 250 shares during the period. 61.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Loews news, Director Andrew H. Tisch sold 271,044 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $64.11, for a total transaction of $17,376,630.84. Following the transaction, the director now owns 14,332,391 shares in the company, valued at approximately $918,849,587.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Richard Waldo Scott sold 6,123 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $64.35, for a total transaction of $394,015.05. Following the sale, the senior vice president now owns 42,920 shares in the company, valued at approximately $2,761,902. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 271,044 shares of the stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $64.11, for a total transaction of $17,376,630.84. Following the sale, the director now owns 14,332,391 shares in the company, valued at approximately $918,849,587.01. The disclosure for this sale can be found here. Insiders have sold a total of 433,961 shares of company stock worth $27,850,985 in the last quarter. Corporate insiders own 17.50% of the company’s stock.

Loews Stock Performance

Shares of NYSE:L opened at $55.12 on Friday. The company’s 50 day moving average price is $59.03 and its two-hundred day moving average price is $61.40. Loews Co. has a 12-month low of $51.35 and a 12-month high of $68.20. The firm has a market cap of $13.28 billion, a PE ratio of 12.79 and a beta of 0.81. The company has a quick ratio of 0.34, a current ratio of 0.35 and a debt-to-equity ratio of 0.52.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Shareholders of record on Wednesday, August 17th will be given a dividend of $0.0625 per share. The ex-dividend date is Tuesday, August 16th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.45%. Loews’s payout ratio is presently 5.80%.

Analysts Set New Price Targets

Several research firms have weighed in on L. StockNews.com cut shares of Loews from a “buy” rating to a “hold” rating in a report on Wednesday. TheStreet cut shares of Loews from a “b” rating to a “c” rating in a report on Monday, August 1st.

About Loews

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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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.

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Want to see what other hedge funds are holding L? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loews Co. (NYSE:LGet Rating).

Institutional Ownership by Quarter for Loews (NYSE:L)

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