Wealth Enhancement Advisory Services LLC Acquires 5,692 Shares of Loews Corporation $L

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Loews Corporation (NYSE:L) by 35.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,900 shares of the insurance provider’s stock after acquiring an additional 5,692 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Loews were worth $2,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its position in Loews by 6.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,606 shares of the insurance provider’s stock valued at $161,000 after purchasing an additional 104 shares during the period. Moody Lynn & Lieberson LLC increased its position in shares of Loews by 2.9% during the third quarter. Moody Lynn & Lieberson LLC now owns 3,678 shares of the insurance provider’s stock valued at $369,000 after buying an additional 105 shares during the period. Trustmark Bank Trust Department raised its stake in Loews by 0.7% in the second quarter. Trustmark Bank Trust Department now owns 16,263 shares of the insurance provider’s stock worth $1,491,000 after buying an additional 115 shares in the last quarter. Wedmont Private Capital lifted its holdings in Loews by 3.8% in the third quarter. Wedmont Private Capital now owns 3,291 shares of the insurance provider’s stock worth $339,000 after buying an additional 120 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in Loews by 0.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 25,996 shares of the insurance provider’s stock valued at $2,610,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews presently has a consensus rating of “Strong Buy”.

Insider Transactions at Loews

In other news, Director Walter L. Harris sold 1,442 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $107.88, for a total value of $155,562.96. Following the transaction, the director owned 24,594 shares in the company, valued at approximately $2,653,200.72. This represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles M. Diker sold 1,442 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $107.93, for a total transaction of $155,635.06. Following the sale, the director directly owned 21,594 shares of the company’s stock, valued at $2,330,640.42. This trade represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 125,770 shares of company stock worth $13,325,818 over the last quarter. Corporate insiders own 19.00% of the company’s stock.

Loews Price Performance

Shares of NYSE L opened at $104.64 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35. The company has a 50 day simple moving average of $104.90 and a two-hundred day simple moving average of $100.11. Loews Corporation has a fifty-two week low of $78.98 and a fifty-two week high of $109.06. The company has a market capitalization of $21.62 billion, a price-to-earnings ratio of 15.17 and a beta of 0.61.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.The company had revenue of $4.67 billion for the quarter.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, November 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.62%.

About Loews

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.