Salvus Wealth Management LLC Acquires 165 Shares of Loews Co. (NYSE:L)

Salvus Wealth Management LLC boosted its stake in shares of Loews Co. (NYSE:L) by 1.4% in the 1st quarter, HoldingsChannel reports. The fund owned 11,848 shares of the insurance provider’s stock after buying an additional 165 shares during the quarter. Salvus Wealth Management LLC’s holdings in Loews were worth $1,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in L. Halbert Hargrove Global Advisors LLC purchased a new position in Loews during the 4th quarter valued at about $26,000. Minot DeBlois Advisors LLC bought a new stake in shares of Loews during the fourth quarter valued at approximately $27,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Loews by 387.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider’s stock valued at $37,000 after buying an additional 345 shares in the last quarter. NBC Securities Inc. purchased a new stake in Loews in the first quarter worth about $40,000. Finally, Human Investing LLC bought a new position in shares of Loews in the fourth quarter worth approximately $51,000. Institutional investors own 58.33% of the company’s stock.

Loews Price Performance

NYSE:L opened at $88.25 on Thursday. The business’s 50-day simple moving average is $87.13 and its two-hundred day simple moving average is $85.87. Loews Co. has a 52 week low of $73.15 and a 52 week high of $92.42. The stock has a market cap of $18.51 billion, a PE ratio of 13.79 and a beta of 0.70. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last issued its 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 company had revenue of $4.49 billion for the quarter.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. Loews’s dividend payout ratio is 4.11%.

Insider Activity at Loews

In related news, Director Jonathan M. Tisch sold 47,636 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total value of $4,043,343.68. Following the completion of the sale, the director now directly owns 6,705,529 shares in the company, valued at $569,165,301.52. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard Waldo Scott sold 9,019 shares of Loews stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the transaction, the senior vice president now directly owns 33,901 shares of the company’s stock, valued at approximately $2,980,575.92. This represents a 21.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,655 shares of company stock valued at $9,069,294. Corporate insiders own 19.00% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Loews from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

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.