Axxcess Wealth Management LLC Acquires Shares of 2,585 Loews Co. (NYSE:L)

Axxcess Wealth Management LLC acquired a new stake in Loews Co. (NYSE:L) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 2,585 shares of the insurance provider’s stock, valued at approximately $204,000.

Several other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its holdings in shares of Loews by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 248,665 shares of the insurance provider’s stock worth $19,657,000 after buying an additional 7,149 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Loews by 3.0% in the 3rd quarter. QRG Capital Management Inc. now owns 117,052 shares of the insurance provider’s stock worth $9,253,000 after buying an additional 3,395 shares during the period. National Pension Service lifted its holdings in shares of Loews by 6.0% in the 3rd quarter. National Pension Service now owns 369,682 shares of the insurance provider’s stock worth $29,223,000 after buying an additional 21,038 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Loews by 22.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider’s stock worth $44,992,000 after buying an additional 105,810 shares during the period. Finally, BSW Wealth Partners purchased a new stake in shares of Loews in the 3rd quarter worth $212,000. Institutional investors own 58.33% of the company’s stock.

Loews Trading Down 0.5 %

Shares of NYSE L opened at $82.80 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market capitalization of $18.03 billion, a P/E ratio of 11.00 and a beta of 0.82. Loews Co. has a 1-year low of $66.16 and a 1-year high of $84.56. The business has a fifty day moving average price of $79.71 and a 200 day moving average price of $78.01.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is presently 3.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on L shares. StockNews.com upgraded Loews from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Jefferies Financial Group decreased their price objective on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research note on Friday, July 26th.

Insider Buying and Selling at Loews

In other news, Director Andrew H. Tisch sold 75,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total value of $6,237,000.00. Following the transaction, the director now directly owns 12,089,677 shares of the company’s stock, valued at approximately $1,005,377,539.32. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan M. Tisch sold 25,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the transaction, the insider now directly owns 461,395 shares in the company, valued at $37,751,338.90. This represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,587 shares of company stock worth $13,423,460. 18.70% of the stock is owned by insiders.

Loews 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 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.