Aaron Wealth Advisors LLC Acquires 344 Shares of Loews Co. (NYSE:L)

Aaron Wealth Advisors LLC increased its holdings in Loews Co. (NYSE:L) by 11.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,372 shares of the insurance provider’s stock after purchasing an additional 344 shares during the period. Aaron Wealth Advisors LLC’s holdings in Loews were worth $267,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of L. Versant Capital Management Inc grew its holdings in shares of Loews by 244.0% in the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 266 shares during the period. Kimelman & Baird LLC bought a new stake in shares of Loews during the 2nd quarter valued at about $45,000. Family Firm Inc. bought a new stake in shares of Loews during the 2nd quarter valued at about $46,000. Innealta Capital LLC bought a new position in shares of Loews in the 2nd quarter worth approximately $51,000. Finally, Blue Trust Inc. lifted its stake in shares of Loews by 80.9% in the 2nd quarter. Blue Trust Inc. now owns 693 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Up 0.1 %

L stock opened at $81.82 on Friday. The business’s 50-day moving average price is $79.38 and its 200-day moving average price is $77.32. The stock has a market cap of $18.12 billion, a P/E ratio of 12.14 and a beta of 0.81. Loews Co. has a twelve month low of $62.18 and a twelve month high of $83.54. 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 (NYSE:L) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share for the quarter. The business had revenue of $4.27 billion for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a yield of 0.31%. Loews’s payout ratio is presently 3.71%.

Wall Street Analyst Weigh In

L has been the topic of several recent research reports. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group reduced their price objective on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st.

Insiders Place Their Bets

In related news, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the transaction, the insider now directly owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann E. Berman sold 1,087 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the transaction, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,215 shares of company stock worth $7,399,013. Corporate insiders own 18.70% of the company’s stock.

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.