Connectus Wealth LLC Buys New Position in Loews Co. (NYSE:L)

Connectus Wealth LLC bought a new stake in shares of Loews Co. (NYSE:LFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,498 shares of the insurance provider’s stock, valued at approximately $1,566,000.

Several other large investors also recently added to or reduced their stakes in L. Norges Bank bought a new stake in Loews during the fourth quarter valued at approximately $511,159,000. Northern Trust Corp boosted its position in shares of Loews by 11.9% in the fourth 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 during the period. UBS Group AG boosted its position in shares of Loews by 60.0% in the fourth 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 during the period. LSV Asset Management bought a new position in shares of Loews in the fourth quarter worth approximately $12,658,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Loews by 118.9% in the third quarter. The Manufacturers Life Insurance Company now owns 286,708 shares of the insurance provider’s stock worth $18,151,000 after purchasing an additional 155,713 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Performance

L opened at $75.34 on Tuesday. The firm has a market cap of $16.68 billion, a P/E ratio of 11.18 and a beta of 0.85. Loews Co. has a 1-year low of $57.47 and a 1-year high of $78.55. The company has a 50 day simple moving average of $75.83 and a two-hundred day simple moving average of $73.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

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

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.33%. Loews’s payout ratio is currently 3.71%.

Insider Buying and Selling

In related news, insider Jonathan M. Tisch sold 50,000 shares of the company’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 transaction, the insider now owns 457,799 shares in the company, valued at $35,314,614.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 150,000 shares of company stock worth $11,588,500. 18.70% of the stock is owned by insiders.

Loews Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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