Captrust Financial Advisors Reduces Holdings in Loews Co. (NYSE:L)

Captrust Financial Advisors decreased its position in shares of Loews Co. (NYSE:L) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 30,910 shares of the insurance provider’s stock after selling 360 shares during the quarter. Captrust Financial Advisors’ holdings in Loews were worth $2,618,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Loews during the 4th quarter valued at $623,493,000. Geode Capital Management LLC increased its position in shares of Loews by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock valued at $378,087,000 after buying an additional 210,594 shares during the period. Invesco Ltd. lifted its holdings in shares of Loews by 0.8% in the fourth quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider’s stock worth $377,920,000 after buying an additional 33,428 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Loews by 0.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock worth $268,640,000 after buying an additional 8,750 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Loews by 2.6% in the fourth quarter. Northern Trust Corp now owns 2,097,608 shares of the insurance provider’s stock valued at $177,646,000 after acquiring an additional 53,625 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Loews from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

Insiders Place Their Bets

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president now owns 33,901 shares of the company’s stock, valued at $2,980,575.92. This represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of Loews 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 transaction, the director now directly owns 7,105,529 shares in the company, valued at $604,538,407.32. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,655 shares of company stock valued at $13,323,294 in the last quarter. Corporate insiders own 19.00% of the company’s stock.

Loews Price Performance

NYSE:L opened at $88.38 on Monday. Loews Co. has a 52-week low of $73.15 and a 52-week high of $92.42. The stock has a fifty day moving average of $86.60 and a 200 day moving average of $84.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of 13.81 and a beta of 0.70.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%. The firm had revenue of $4.49 billion during the quarter.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews’s dividend payout ratio is presently 4.11%.

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.