Beacon Pointe Advisors LLC Purchases 8,121 Shares of Loews Corporation $L

Beacon Pointe Advisors LLC grew its holdings in shares of Loews Corporation (NYSE:L) by 145.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,693 shares of the insurance provider’s stock after buying an additional 8,121 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Loews were worth $1,255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of L. Elevation Point Wealth Partners LLC bought a new position in Loews in the 2nd quarter valued at $27,000. Elequin Capital LP purchased a new stake in shares of Loews during the first quarter valued at $30,000. Zions Bancorporation National Association UT bought a new position in shares of Loews in the first quarter worth about $33,000. NewSquare Capital LLC grew its holdings in shares of Loews by 404.1% in the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 295 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Loews by 14,900.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock worth $41,000 after buying an additional 447 shares during the period. 58.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy”.

Insider Buying and Selling

In other Loews news, Director Paul J. Fribourg sold 1,442 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $108.13, for a total transaction of $155,923.46. Following the completion of the transaction, the director owned 400 shares of the company’s stock, valued at $43,252. This trade represents a 78.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles M. Diker sold 1,442 shares of Loews stock in a transaction dated 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 owned 21,594 shares of the company’s stock, valued at approximately $2,330,640.42. This represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,770 shares of company stock valued at $8,072,318 over the last three months. Company insiders own 19.00% of the company’s stock.

Loews Trading Down 1.7%

L opened at $102.76 on Friday. The stock has a market capitalization of $21.24 billion, a PE ratio of 14.89 and a beta of 0.62. Loews Corporation has a one year low of $78.98 and a one year high of $109.06. 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 business’s 50 day moving average price is $102.53 and its 200 day moving average price is $96.06.

Loews (NYSE:L) last posted its earnings results on Monday, November 3rd. The insurance provider reported $2.43 EPS 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, November 26th. Loews’s payout ratio is 3.62%.

Loews Profile

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.