Loews Co. (NYSE:L) Shares Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC raised its stake in Loews Co. (NYSE:L) by 4.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 375,496 shares of the insurance provider’s stock after purchasing an additional 16,405 shares during the period. Loews accounts for approximately 0.8% of Moran Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Moran Wealth Management LLC owned 0.17% of Loews worth $22,297,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kinneret Advisory LLC increased its position in shares of Loews by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 7,244 shares of the insurance provider’s stock worth $470,000 after purchasing an additional 162 shares during the last quarter. Contravisory Investment Management Inc. grew its position in shares of Loews by 2.7% during the 2nd quarter. Contravisory Investment Management Inc. now owns 6,895 shares of the insurance provider’s stock valued at $409,000 after buying an additional 181 shares during the last quarter. United Capital Financial Advisers LLC grew its position in shares of Loews by 2.7% during the 4th quarter. United Capital Financial Advisers LLC now owns 6,849 shares of the insurance provider’s stock valued at $400,000 after buying an additional 183 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Loews by 40.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 705 shares of the insurance provider’s stock valued at $40,000 after buying an additional 202 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Loews by 5.1% during the 1st quarter. Signaturefd LLC now owns 4,639 shares of the insurance provider’s stock valued at $269,000 after buying an additional 226 shares during the last quarter. Institutional investors own 54.03% of the company’s stock.

Insider Transactions at Loews

In related news, Director Jonathan C. Locker purchased 15,870 shares of Loews stock in a transaction dated Tuesday, October 31st. The stock was bought at an average cost of $63.75 per share, with a total value of $1,011,712.50. Following the purchase, the director now owns 15,870 shares in the company, valued at approximately $1,011,712.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Paul J. Fribourg sold 561 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $62.56, for a total transaction of $35,096.16. Following the completion of the sale, the director now directly owns 3,292 shares of the company’s stock, valued at $205,947.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan C. Locker bought 15,870 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were acquired at an average cost of $63.75 per share, with a total value of $1,011,712.50. Following the completion of the purchase, the director now owns 15,870 shares of the company’s stock, valued at $1,011,712.50. The disclosure for this purchase can be found here. Company insiders own 18.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on L. Royal Bank of Canada lowered their price objective on shares of Loews from $174.00 to $170.00 and set an “outperform” rating for the company in a research report on Thursday. StockNews.com began coverage on shares of Loews in a research report on Thursday, October 5th. They set a “buy” rating for the company.

Loews Stock Performance

Loews stock traded down $0.06 during midday trading on Friday, reaching $67.00. 797,310 shares of the stock traded hands, compared to its average volume of 722,981. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average price of $64.31 and a two-hundred day moving average price of $61.59. The firm has a market cap of $14.96 billion, a price-to-earnings ratio of 11.47 and a beta of 0.80. Loews Co. has a fifty-two week low of $52.85 and a fifty-two week high of $67.46.

Loews (NYSE:L) last posted its earnings results on Monday, October 30th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter. The firm had revenue of $3.93 billion during the quarter. Loews had a net margin of 8.76% and a return on equity of 8.95%.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Tuesday, November 21st. Loews’s payout ratio is 4.28%.

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 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.