Loews Corporation $L Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC trimmed its stake in shares of Loews Corporation (NYSE:L) by 20.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,493 shares of the insurance provider’s stock after selling 1,935 shares during the quarter. HB Wealth Management LLC’s holdings in Loews were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wayfinding Financial LLC acquired a new stake in Loews in the 1st quarter valued at approximately $25,000. Sierra Ocean LLC increased its position in Loews by 805.9% in the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 274 shares during the period. Elequin Capital LP acquired a new stake in Loews in the 1st quarter valued at approximately $30,000. Zions Bancorporation National Association UT acquired a new stake in Loews in the 1st quarter valued at approximately $33,000. Finally, NBC Securities Inc. acquired a new stake in Loews in the 1st quarter valued at approximately $40,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b+)” rating on shares of Loews in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Loews Stock Up 0.0%

Shares of L stock opened at $101.68 on Friday. The stock has a market cap of $21.09 billion, a PE ratio of 16.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The business’s fifty day moving average is $96.08 and its 200-day moving average is $91.18. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $102.41.

Loews (NYSE:L) last released its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The business had revenue of $4.56 billion during the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is currently 3.97%.

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.