Loews Co. (NYSE:L) Holdings Cut by Summit Global Investments

Summit Global Investments cut its stake in shares of Loews Co. (NYSE:L) by 50.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,253 shares of the insurance provider’s stock after selling 3,290 shares during the quarter. Summit Global Investments’ holdings in Loews were worth $275,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in L. Venturi Wealth Management LLC lifted its position in Loews by 10.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 119 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of Loews by 5.2% during the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock valued at $249,000 after buying an additional 151 shares during the last quarter. Summit Trail Advisors LLC boosted its position in shares of Loews by 2.6% during the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock worth $477,000 after buying an additional 153 shares during the period. Mather Group LLC. grew its holdings in Loews by 7.7% in the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock worth $190,000 after buying an additional 161 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its position in Loews by 5.9% in the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after acquiring an additional 183 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Loews news, Director Andrew H. Tisch sold 7,533 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the sale, the director now directly owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,860 shares of company stock worth $13,486,463. Corporate insiders own 18.70% of the company’s stock.

Loews Trading Up 1.5 %

Shares of NYSE:L opened at $88.54 on Tuesday. The company has a 50 day moving average of $85.35 and a 200-day moving average of $83.12. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market cap of $18.85 billion, a P/E ratio of 13.83 and a beta of 0.80. Loews Co. has a twelve month low of $72.91 and a twelve month high of $88.66.

Loews (NYSE:L) last issued 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 Dividend Announcement

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

Analyst Ratings Changes

Separately, StockNews.com lowered Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

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.