Ashton Thomas Private Wealth LLC Buys 5,014 Shares of Loews Co. (NYSE:L)

Ashton Thomas Private Wealth LLC lifted its stake in Loews Co. (NYSE:L) by 215.6% during the third quarter, HoldingsChannel.com reports. The firm owned 7,340 shares of the insurance provider’s stock after purchasing an additional 5,014 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Loews were worth $580,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its stake in Loews by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 509,349 shares of the insurance provider’s stock valued at $40,264,000 after buying an additional 5,655 shares during the last quarter. Colonial River Investments LLC purchased a new stake in Loews during the 3rd quarter valued at $204,000. Axxcess Wealth Management LLC purchased a new stake in Loews during the 3rd quarter valued at $204,000. Principal Financial Group Inc. raised its stake in Loews by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 248,665 shares of the insurance provider’s stock valued at $19,657,000 after buying an additional 7,149 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in Loews by 3.0% during the 3rd quarter. QRG Capital Management Inc. now owns 117,052 shares of the insurance provider’s stock valued at $9,253,000 after buying an additional 3,395 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group decreased their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. StockNews.com upgraded Loews from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research note on Friday, July 26th.

Insider Buying and Selling at Loews

In related news, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at $406,737.24. This trade represents a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the transaction, the insider now directly owns 461,395 shares in the company, valued at approximately $37,751,338.90. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,587 shares of company stock valued at $13,423,460 in the last 90 days. Insiders own 18.70% of the company’s stock.

Loews Stock Down 0.5 %

L opened at $82.80 on Friday. The firm has a 50-day simple moving average of $79.71 and a two-hundred day simple moving average of $78.01. Loews Co. has a 52 week low of $66.16 and a 52 week high of $84.56. The company has a market capitalization of $18.03 billion, a PE ratio of 11.00 and a beta of 0.82. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is presently 3.32%.

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.