Connectus Wealth LLC Buys New Stake in Loews Co. (NYSE:L)

Connectus Wealth LLC purchased a new stake in Loews Co. (NYSE:LFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,498 shares of the insurance provider’s stock, valued at approximately $1,566,000.

A number of other institutional investors have also modified their holdings of the stock. J.P. Morgan Private Wealth Advisors LLC lifted its stake in shares of Loews by 1.7% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 23,330 shares of the insurance provider’s stock valued at $1,477,000 after purchasing an additional 397 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Loews by 14.6% in the third quarter. Janney Montgomery Scott LLC now owns 6,711 shares of the insurance provider’s stock worth $425,000 after acquiring an additional 854 shares during the period. HighTower Advisors LLC boosted its stake in shares of Loews by 2.2% during the 3rd quarter. HighTower Advisors LLC now owns 75,848 shares of the insurance provider’s stock worth $4,800,000 after acquiring an additional 1,613 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Loews by 12.7% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,181 shares of the insurance provider’s stock valued at $2,354,000 after acquiring an additional 4,192 shares during the period. Finally, Prudential PLC increased its stake in shares of Loews by 77.6% in the 3rd quarter. Prudential PLC now owns 27,118 shares of the insurance provider’s stock valued at $1,717,000 after purchasing an additional 11,847 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Activity at Loews

In related news, insider Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $77.24, for a total value of $3,862,000.00. Following the sale, the insider now owns 507,799 shares of the company’s stock, valued at approximately $39,222,394.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 150,000 shares of company stock valued at $11,588,500. 18.70% of the stock is owned by company insiders.

Loews Stock Performance

NYSE L opened at $75.34 on Tuesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a twelve month low of $57.47 and a twelve month high of $78.55. The stock has a 50-day moving average of $75.83 and a 200 day moving average of $73.75. The stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 11.18 and a beta of 0.85.

Loews (NYSE:LGet Free Report) last announced its earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share for the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%. The business had revenue of $4.23 billion during the quarter.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.25 dividend on an annualized basis and a yield of 0.33%. Loews’s dividend payout ratio is currently 3.71%.

Loews Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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