Wealthspire Advisors LLC Has $254,000 Holdings in Loews Co. (NYSE:L)

Wealthspire Advisors LLC lessened its holdings in Loews Co. (NYSE:L) by 6.6% during the second quarter, HoldingsChannel reports. The fund owned 3,396 shares of the insurance provider’s stock after selling 240 shares during the quarter. Wealthspire Advisors LLC’s holdings in Loews were worth $254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Loews by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after purchasing an additional 507,513 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Loews by 1.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock worth $255,210,000 after purchasing an additional 37,953 shares in the last quarter. Northern Trust Corp grew its position in Loews by 11.9% in the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock worth $174,191,000 after purchasing an additional 266,729 shares in the last quarter. Hsbc Holdings PLC grew its position in Loews by 9.0% in the 4th quarter. Hsbc Holdings PLC now owns 570,748 shares of the insurance provider’s stock worth $39,698,000 after purchasing an additional 46,990 shares in the last quarter. Finally, UBS Group AG grew its position in Loews by 60.0% in the 4th quarter. UBS Group AG now owns 555,768 shares of the insurance provider’s stock worth $38,676,000 after purchasing an additional 208,356 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity at Loews

In related news, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now directly owns 4,998 shares in the company, valued at approximately $406,737.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now directly owns 4,998 shares in the company, valued at approximately $406,737.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the sale, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,215 shares of company stock worth $7,399,013. 18.70% of the stock is owned by corporate insiders.

Loews Stock Up 0.6 %

Loews stock opened at $79.29 on Wednesday. Loews Co. has a twelve month low of $61.43 and a twelve month high of $83.54. The firm has a 50 day moving average price of $78.94 and a 200-day moving average price of $76.92. The company has a market capitalization of $17.56 billion, a P/E ratio of 11.76 and a beta of 0.82. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last released its earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%. The firm had revenue of $4.27 billion during the quarter.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Wednesday, August 21st. Loews’s dividend payout ratio is currently 3.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on L shares. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group reduced their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st.

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.