Envestnet Asset Management Inc. Has $18.45 Million Position in Loews Corporation $L

Envestnet Asset Management Inc. lifted its holdings in Loews Corporation (NYSE:L) by 8.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,816 shares of the insurance provider’s stock after buying an additional 14,406 shares during the period. Envestnet Asset Management Inc. owned about 0.09% of Loews worth $18,453,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its stake in Loews by 880.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 229 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Loews during the second quarter valued at approximately $27,000. NewSquare Capital LLC increased its stake in Loews by 404.1% in the 2nd quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after buying an additional 295 shares during the period. Westside Investment Management Inc. lifted its position in Loews by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock worth $37,000 after buying an additional 185 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new stake in shares of Loews during the 2nd quarter valued at $41,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Loews

In related news, VP Marc A. Alpert sold 3,495 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total transaction of $383,995.65. Following the completion of the transaction, the vice president directly owned 16,325 shares of the company’s stock, valued at approximately $1,793,627.75. This trade represents a 17.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles M. Diker sold 1,442 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $107.93, for a total transaction of $155,635.06. Following the completion of the transaction, the director directly owned 21,594 shares of the company’s stock, valued at approximately $2,330,640.42. This trade represents a 6.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 131,187 shares of company stock valued at $13,921,541. 19.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Loews Stock Down 1.2%

Shares of Loews stock opened at $108.70 on Friday. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $114.90. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 13.62 and a beta of 0.61. The company has a 50-day moving average of $105.47 and a 200 day moving average of $101.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.35.

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

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, February 25th. Loews’s payout ratio is presently 3.13%.

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.