Signature Wealth Management Partners LLC Sells 337 Shares of Loews Co. (NYSE:L)

Signature Wealth Management Partners LLC lessened its stake in shares of Loews Co. (NYSE:L) by 3.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,620 shares of the insurance provider’s stock after selling 337 shares during the quarter. Signature Wealth Management Partners LLC’s holdings in Loews were worth $719,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of L. Altshuler Shaham Ltd bought a new stake in shares of Loews during the fourth quarter worth $26,000. Northwest Financial Advisors bought a new stake in shares of Loews during the fourth quarter worth $28,000. Versant Capital Management Inc grew its stake in shares of Loews by 244.0% during the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after buying an additional 266 shares during the last quarter. Desjardins Global Asset Management Inc. grew its stake in shares of Loews by 225.2% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after buying an additional 340 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Loews during the fourth quarter worth $38,000. Institutional investors own 58.33% of the company’s stock.

Loews Trading Down 1.2 %

Shares of NYSE:L traded down $0.95 during mid-day trading on Monday, reaching $76.93. 448,018 shares of the company’s stock were exchanged, compared to its average volume of 733,468. The firm has a market capitalization of $17.03 billion, a price-to-earnings ratio of 11.41 and a beta of 0.83. The business’s fifty day moving average price is $76.53 and its 200-day moving average price is $75.82. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a twelve month low of $61.29 and a twelve month high of $83.54.

Loews (NYSE:L) last released its earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $0.25 annualized dividend and a yield of 0.32%. Loews’s payout ratio is 3.71%.

Analyst Ratings Changes

A number of research firms have weighed in on L. Jefferies Financial Group decreased their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a report on Friday, July 26th.

Insider Activity at Loews

In related news, VP Mark S. Schwartz sold 2,628 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total value of $212,552.64. Following the transaction, the vice president now owns 14,933 shares in the company, valued at $1,207,781.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Loews news, VP Mark S. Schwartz sold 2,628 shares of Loews stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total value of $212,552.64. Following the completion of the sale, the vice president now directly owns 14,933 shares of the company’s stock, valued at $1,207,781.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $77.24, for a total transaction of $3,862,000.00. Following the completion of the sale, the insider now directly owns 507,799 shares of the company’s stock, valued at $39,222,394.76. The disclosure for this sale can be found here. Insiders have sold a total of 102,628 shares of company stock worth $7,931,553 over the last quarter. Company 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.