Ritholtz Wealth Management Trims Holdings in Loews Corporation $L

Ritholtz Wealth Management decreased its holdings in shares of Loews Corporation (NYSE:L) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,707 shares of the insurance provider’s stock after selling 370 shares during the period. Ritholtz Wealth Management’s holdings in Loews were worth $615,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Loews during the first quarter valued at approximately $25,000. Sierra Ocean LLC boosted its holdings in Loews by 805.9% in the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 274 shares in the last quarter. Elequin Capital LP purchased a new position in Loews during the 1st quarter valued at $30,000. Zions Bancorporation National Association UT purchased a new position in Loews during the 1st quarter valued at $33,000. Finally, Trust Co. of Toledo NA OH bought a new position in Loews in the 2nd quarter worth $60,000. 58.33% of the stock is currently owned by institutional investors.

Loews Price Performance

L opened at $98.79 on Monday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The company has a market cap of $20.49 billion, a price-to-earnings ratio of 15.71 and a beta of 0.73. The stock has a fifty day simple moving average of $97.93 and a two-hundred day simple moving average of $91.95. Loews Corporation has a 12-month low of $75.16 and a 12-month high of $103.52.

Loews (NYSE:L) last released its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The firm had revenue of $4.56 billion for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Wednesday, August 20th. Loews’s dividend payout ratio (DPR) is presently 3.97%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Loews in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

Loews Company 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.