Smith Partners Wealth Management LLC Invests $849,000 in Loews Corporation $L

Smith Partners Wealth Management LLC bought a new stake in Loews Corporation (NYSE:L) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,500 shares of the insurance provider’s stock, valued at approximately $849,000. Loews makes up 0.7% of Smith Partners Wealth Management LLC’s investment portfolio, making the stock its 18th biggest position.

Other large investors have also modified their holdings of the company. Great Lakes Advisors LLC bought a new stake in Loews in the second quarter valued at about $226,000. Danske Bank A S acquired a new stake in Loews during the second quarter valued at approximately $1,546,000. Wealthfront Advisers LLC bought a new position in Loews during the 2nd quarter worth approximately $6,884,000. First National Bank of Omaha bought a new position in Loews during the 2nd quarter worth approximately $216,000. Finally, Meeder Advisory Services Inc. acquired a new position in shares of Loews in the 2nd quarter worth approximately $670,000. Institutional investors own 58.33% of the company’s stock.

Insider Activity at Loews

In other Loews news, Director Dino Robusto purchased 5,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares in the company, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 19.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Loews from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews presently has an average rating of “Strong Buy”.

Loews Stock Performance

Shares of L opened at $112.57 on Wednesday. The firm has a fifty day moving average of $113.57 and a 200-day moving average of $110.10. The company has a market cap of $23.01 billion, a price-to-earnings ratio of 13.80 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a 1 year low of $94.53 and a 1 year high of $121.01.

Loews (NYSE:L) last released its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. The business had revenue of $4.73 billion for the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be paid a $0.0625 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.06%.

Loews Company Profile

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.