Accurate Wealth Management LLC Invests $2.10 Million in Loews Corporation $L

Accurate Wealth Management LLC acquired a new stake in Loews Corporation (NYSE:L) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,036 shares of the insurance provider’s stock, valued at approximately $2,095,000.

Several other institutional investors have also added to or reduced their stakes in L. Norges Bank acquired a new stake in shares of Loews in the 2nd quarter valued at $665,658,000. Invesco Ltd. raised its holdings in shares of Loews by 0.4% during the 3rd quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock worth $337,698,000 after buying an additional 12,311 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Loews by 0.4% during the 3rd quarter. Legal & General Group Plc now owns 1,340,867 shares of the insurance provider’s stock worth $134,610,000 after buying an additional 4,792 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Loews by 12.1% during the 3rd quarter. California State Teachers Retirement System now owns 777,030 shares of the insurance provider’s stock worth $78,006,000 after buying an additional 83,669 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Loews by 0.7% in the second quarter. Hsbc Holdings PLC now owns 728,940 shares of the insurance provider’s stock valued at $66,761,000 after buying an additional 4,750 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

Shares of NYSE L opened at $103.93 on Friday. The firm has a fifty day simple moving average of $107.59 and a 200 day simple moving average of $104.31. Loews Corporation has a twelve month low of $78.98 and a twelve month high of $114.90. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $21.41 billion, a PE ratio of 13.02 and a beta of 0.60.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, February 9th. The insurance provider reported $1.94 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.The company had revenue of $4.73 billion for the quarter.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s payout ratio is 3.13%.

Insiders Place Their Bets

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the transaction, the director directly owned 12,480,400 shares in the company, valued at approximately $1,357,992,324. This represents a 0.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann E. Berman sold 1,922 shares of Loews stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total transaction of $211,727.52. Following the completion of the sale, the director owned 4,998 shares of the company’s stock, valued at $550,579.68. This represents a 27.77% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 105,417 shares of company stock worth $11,549,723. Corporate insiders own 19.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Loews 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.