Russell Investments Group Ltd. Has $7.01 Million Stake in Loews Corporation $L

Russell Investments Group Ltd. decreased its holdings in Loews Corporation (NYSE:L) by 8.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 76,469 shares of the insurance provider’s stock after selling 6,779 shares during the quarter. Russell Investments Group Ltd.’s holdings in Loews were worth $7,008,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Aaron Wealth Advisors LLC increased its stake in shares of Loews by 3.9% in the second quarter. Aaron Wealth Advisors LLC now owns 3,754 shares of the insurance provider’s stock valued at $344,000 after buying an additional 142 shares in the last quarter. BSW Wealth Partners grew its holdings in Loews by 5.4% during the 2nd quarter. BSW Wealth Partners now owns 2,812 shares of the insurance provider’s stock worth $258,000 after acquiring an additional 143 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of Loews by 5.3% in the second quarter. Flagship Harbor Advisors LLC now owns 2,856 shares of the insurance provider’s stock worth $262,000 after acquiring an additional 143 shares during the last quarter. Fielder Capital Group LLC raised its stake in shares of Loews by 1.1% in the second quarter. Fielder Capital Group LLC now owns 13,775 shares of the insurance provider’s stock worth $1,263,000 after acquiring an additional 150 shares during the last quarter. Finally, NDVR Inc. lifted its position in shares of Loews by 4.8% during the second quarter. NDVR Inc. now owns 3,381 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 156 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Loews Stock Down 1.3%

Shares of NYSE L opened at $104.41 on Friday. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $109.06. The firm’s 50-day moving average is $102.48 and its 200-day moving average is $95.97. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $21.58 billion, a PE ratio of 15.13 and a beta of 0.62.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. Loews had a net margin of 7.95% and a return on equity of 7.89%. The business had revenue of $4.67 billion during the quarter.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio is 3.62%.

Insiders Place Their Bets

In other Loews news, Director Ann E. Berman sold 1,444 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $108.10, for a total value of $156,096.40. Following the transaction, the director owned 6,686 shares of the company’s stock, valued at approximately $722,756.60. This represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew H. Tisch sold 40,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $107.05, for a total value of $4,282,000.00. Following the transaction, the director owned 13,019,642 shares in the company, valued at approximately $1,393,752,676.10. This trade represents a 0.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 75,770 shares of company stock worth $8,072,318 over the last three months. Insiders own 19.00% of the company’s stock.

Loews Company 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.