HB Wealth Management LLC grew its holdings in shares of Loews Co. (NYSE:L – Free Report) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,801 shares of the insurance provider’s stock after acquiring an additional 234 shares during the period. HB Wealth Management LLC’s holdings in Loews were worth $285,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Loews by 0.6% in the 4th quarter. JPMorgan Chase & Co. now owns 14,831,832 shares of the insurance provider’s stock valued at $865,140,000 after buying an additional 88,346 shares during the period. Norges Bank acquired a new stake in shares of Loews in the 4th quarter valued at about $420,569,000. Geode Capital Management LLC grew its stake in shares of Loews by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 4,064,740 shares of the insurance provider’s stock valued at $235,292,000 after buying an additional 51,482 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Loews by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,630,397 shares of the insurance provider’s stock valued at $95,101,000 after buying an additional 17,451 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Loews by 616.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,342,534 shares of the insurance provider’s stock valued at $9,537,000 after buying an additional 1,155,120 shares during the period. 54.03% of the stock is currently owned by institutional investors and hedge funds.
Loews Stock Performance
Shares of L opened at $64.50 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a 50-day moving average of $62.56 and a 200-day moving average of $59.42. The company has a market cap of $14.55 billion, a PE ratio of 12.26 and a beta of 0.84. Loews Co. has a one year low of $49.36 and a one year high of $65.39.
Loews Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Wednesday, August 16th were given a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $0.25 annualized dividend and a yield of 0.39%. Loews’s payout ratio is 4.75%.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on Loews in a research note on Thursday, August 17th. They issued a “buy” rating for the company.
Insider Activity at Loews
In other Loews news, major shareholder Corp Loews purchased 4,456,050 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were acquired at an average price of $39.29 per share, with a total value of $175,078,204.50. Following the transaction, the insider now owns 248,414,738 shares in the company, valued at $9,760,215,056.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Corp Loews bought 4,456,050 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $39.29 per share, with a total value of $175,078,204.50. Following the transaction, the insider now directly owns 248,414,738 shares in the company, valued at $9,760,215,056.02. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul J. Fribourg sold 561 shares of Loews stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $62.56, for a total transaction of $35,096.16. Following the transaction, the director now directly owns 3,292 shares in the company, valued at approximately $205,947.52. The disclosure for this sale can be found here. 18.30% of the stock is owned by insiders.
About Loews
Loews Corp. is a holding company, which engages in the business of commercial property and casualty insurance, transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. It operates through the following segments: CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation, and Corporate.
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