Axxcess Wealth Management LLC Boosts Stock Position in Loews Co. (NYSE:L)

Axxcess Wealth Management LLC increased its stake in shares of Loews Co. (NYSE:L) by 23.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,195 shares of the insurance provider’s stock after purchasing an additional 610 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Loews were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in L. Curio Wealth LLC purchased a new stake in Loews in the 4th quarter valued at about $107,000. Frank Rimerman Advisors LLC purchased a new stake in Loews in the 4th quarter valued at about $242,000. Intact Investment Management Inc. purchased a new stake in Loews in the 4th quarter valued at about $68,000. Achmea Investment Management B.V. grew its holdings in Loews by 17.4% in the 4th quarter. Achmea Investment Management B.V. now owns 6,297 shares of the insurance provider’s stock valued at $533,000 after buying an additional 932 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in Loews by 28.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,432 shares of the insurance provider’s stock valued at $375,000 after buying an additional 969 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

NYSE L opened at $87.22 on Friday. The firm has a market capitalization of $18.57 billion, a P/E ratio of 13.63 and a beta of 0.80. Loews Co. has a 1-year low of $72.91 and a 1-year high of $88.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The business’s 50-day simple moving average is $85.23 and its 200-day simple moving average is $83.06.

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

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s dividend payout ratio is currently 3.91%.

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 47,636 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the transaction, the director now directly owns 6,705,529 shares of the company’s stock, valued at approximately $569,165,301.52. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 7,533 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the transaction, the director now directly owns 1,568,191 shares in the company, valued at $132,276,910.85. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 158,860 shares of company stock valued at $13,486,463. Corporate insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

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.