Envestnet Portfolio Solutions Inc. Has $2.71 Million Stock Holdings in Loews Co. (NYSE:L)

Envestnet Portfolio Solutions Inc. lowered its position in shares of Loews Co. (NYSE:L) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,025 shares of the insurance provider’s stock after selling 409 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Loews were worth $2,712,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Loews during the fourth quarter worth approximately $26,000. Brooklyn Investment Group bought a new stake in shares of Loews during the third quarter worth $40,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Loews in the third quarter valued at $49,000. Human Investing LLC bought a new position in shares of Loews in the fourth quarter valued at about $51,000. Finally, Intact Investment Management Inc. acquired a new position in Loews during the 4th quarter worth about $68,000. 58.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Insider Activity at Loews

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the sale, the director now directly owns 7,105,529 shares of the company’s stock, valued at approximately $604,538,407.32. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,860 shares of company stock worth $13,486,463 over the last ninety days. Company insiders own 18.70% of the company’s stock.

Loews Stock Up 1.0 %

Shares of L opened at $87.81 on Thursday. The business’s fifty day moving average price is $85.01 and its two-hundred day moving average price is $82.98. The firm has a market capitalization of $18.69 billion, a price-to-earnings ratio of 13.72 and a beta of 0.80. Loews Co. has a 52 week low of $72.91 and a 52 week high of $88.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is 3.91%.

Loews 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.