Corient Private Wealth LLC Has $4.81 Million Position in Loews Corporation $L

Corient Private Wealth LLC trimmed its position in Loews Corporation (NYSE:L) by 10.8% during the second quarter, HoldingsChannel.com reports. The fund owned 52,446 shares of the insurance provider’s stock after selling 6,329 shares during the period. Corient Private Wealth LLC’s holdings in Loews were worth $4,807,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC acquired a new stake in Loews during the 2nd quarter worth $27,000. NewSquare Capital LLC grew its stake in Loews by 404.1% in the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 295 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of Loews by 14,900.0% in the second quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 447 shares in the last quarter. MTM Investment Management LLC bought a new stake in shares of Loews in the second quarter worth about $41,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Loews during the second quarter worth about $44,000. 58.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Loews news, Director Charles M. Diker sold 1,442 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $107.93, for a total transaction of $155,635.06. Following the completion of the sale, the director directly owned 21,594 shares in the company, valued at $2,330,640.42. This trade represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $105.07, for a total value of $5,253,500.00. Following the sale, the director directly owned 12,909,642 shares of the company’s stock, valued at approximately $1,356,416,084.94. The trade was a 0.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 125,770 shares of company stock worth $13,325,818 in the last quarter. Company insiders own 19.00% of the company’s stock.

Loews Price Performance

NYSE:L opened at $106.53 on Friday. The stock’s 50-day simple moving average is $103.09 and its 200 day simple moving average is $97.21. Loews Corporation has a 52-week low of $78.98 and a 52-week high of $109.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $22.02 billion, a P/E ratio of 15.44 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. The firm had revenue of $4.67 billion for the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, November 26th. Loews’s payout ratio is currently 3.62%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has an average rating of “Strong Buy”.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.