Bank of Nova Scotia Raises Stock Position in Loews Corporation $L

Bank of Nova Scotia boosted its stake in shares of Loews Corporation (NYSE:L) by 309.5% in the second quarter, HoldingsChannel.com reports. The fund owned 89,140 shares of the insurance provider’s stock after purchasing an additional 67,372 shares during the period. Bank of Nova Scotia’s holdings in Loews were worth $8,171,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of L. Trustmark Bank Trust Department raised its position in shares of Loews by 0.7% during the 2nd quarter. Trustmark Bank Trust Department now owns 16,263 shares of the insurance provider’s stock worth $1,491,000 after purchasing an additional 115 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in Loews by 3.9% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,754 shares of the insurance provider’s stock worth $344,000 after buying an additional 142 shares in the last quarter. BSW Wealth Partners raised its stake in Loews by 5.4% in the 2nd quarter. BSW Wealth Partners now owns 2,812 shares of the insurance provider’s stock valued at $258,000 after purchasing an additional 143 shares during the last quarter. Flagship Harbor Advisors LLC raised its position 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 valued at $262,000 after buying an additional 143 shares during the last quarter. Finally, Fielder Capital Group LLC lifted 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 buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Price Performance

NYSE:L opened at $102.51 on Thursday. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $109.06. The stock’s fifty day moving average is $102.65 and its two-hundred day moving average is $96.41. The company has a market capitalization of $21.19 billion, a P/E ratio of 14.86 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.44.

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

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Wednesday, November 26th were given a dividend of $0.0625 per share. The ex-dividend date was 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 (DPR) is currently 3.62%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Insider Buying and Selling at Loews

In related news, Director Walter L. Harris sold 1,442 shares of Loews stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $107.88, for a total value of $155,562.96. Following the completion of the sale, the director owned 24,594 shares in the company, valued at approximately $2,653,200.72. This trade represents a 5.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew H. Tisch sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $105.57, for a total value of $3,167,100.00. Following the completion of the sale, the director directly owned 12,959,642 shares in the company, valued at approximately $1,368,149,405.94. The trade was a 0.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 75,770 shares of company stock valued at $8,072,318. 19.00% of the stock is currently owned by company insiders.

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.