Ashton Thomas Private Wealth LLC Grows Stock Position in Loews Co. (NYSE:L)

Ashton Thomas Private Wealth LLC increased its holdings in shares of Loews Co. (NYSE:L - Free Report) by 147.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,178 shares of the insurance provider's stock after buying an additional 10,838 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Loews were worth $1,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of L. Janney Montgomery Scott LLC increased its holdings in Loews by 26.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 27,462 shares of the insurance provider's stock worth $2,171,000 after purchasing an additional 5,742 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Loews by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 248,665 shares of the insurance provider's stock worth $19,657,000 after purchasing an additional 7,149 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in Loews in the 3rd quarter worth about $204,000. Colonial River Investments LLC acquired a new position in Loews in the 3rd quarter worth about $204,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Loews by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 509,349 shares of the insurance provider's stock worth $40,264,000 after purchasing an additional 5,655 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Up 0.5 %

NYSE:L traded up $0.47 on Friday, hitting $85.35. The stock had a trading volume of 632,686 shares, compared to its average volume of 717,325. The business's fifty day moving average is $84.70 and its 200 day moving average is $82.69. The company has a market cap of $18.17 billion, a PE ratio of 13.34 and a beta of 0.80. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 52 week low of $72.91 and a 52 week high of $88.29.

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Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews's dividend payout ratio is presently 3.91%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Loews from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.

Insider Activity

In related news, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the sale, the director now directly owns 7,105,529 shares of the company's stock, valued at approximately $604,538,407.32. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders have sold 61,224 shares of company stock worth $5,210,120 over the last 90 days. 18.70% of the stock is currently owned by corporate insiders.

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.