Wealth Enhancement Advisory Services LLC Cuts Stock Holdings in Loews Co. (NYSE:L)

Wealth Enhancement Advisory Services LLC cut its stake in shares of Loews Co. (NYSE:L) by 1.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,801 shares of the insurance provider’s stock after selling 177 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Loews were worth $846,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Loews by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 20,526 shares of the insurance provider’s stock valued at $1,428,000 after acquiring an additional 145 shares during the period. Lindbrook Capital LLC raised its position in Loews by 41.4% in the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 179 shares during the period. Chase Investment Counsel Corp lifted its stake in shares of Loews by 0.5% during the fourth quarter. Chase Investment Counsel Corp now owns 36,553 shares of the insurance provider’s stock worth $2,543,000 after purchasing an additional 190 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Loews by 4.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,839 shares of the insurance provider’s stock valued at $337,000 after buying an additional 199 shares in the last quarter. Finally, Optas LLC raised its holdings in shares of Loews by 4.2% during the 4th quarter. Optas LLC now owns 7,935 shares of the insurance provider’s stock valued at $552,000 after buying an additional 320 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

Loews stock opened at $74.41 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The firm’s fifty day moving average price is $75.71 and its 200 day moving average price is $74.57. The company has a market capitalization of $16.48 billion, a price-to-earnings ratio of 11.04 and a beta of 0.83. Loews Co. has a 12-month low of $59.37 and a 12-month high of $78.55.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. The company had revenue of $4.23 billion for the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Wednesday, May 29th. Loews’s dividend payout ratio is presently 3.71%.

Insider Transactions at Loews

In other Loews news, insider Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $77.14, for a total transaction of $3,857,000.00. Following the completion of the sale, the insider now owns 457,799 shares in the company, valued at $35,314,614.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 150,000 shares of company stock worth $11,588,500. 18.70% of the stock is currently owned by corporate insiders.

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.