Summit Global Investments Invests $2.16 Million in Loews Co. (NYSE:L)

Summit Global Investments acquired a new stake in shares of Loews Co. (NYSE:L) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 31,095 shares of the insurance provider’s stock, valued at approximately $2,164,000.

Other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in shares of Loews by 8.0% during the third quarter. Commonwealth Equity Services LLC now owns 4,221 shares of the insurance provider’s stock worth $267,000 after purchasing an additional 313 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Loews by 3.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 469,106 shares of the insurance provider’s stock worth $29,699,000 after buying an additional 15,912 shares during the period. Xponance Inc. increased its stake in Loews by 3.3% in the 3rd quarter. Xponance Inc. now owns 27,295 shares of the insurance provider’s stock worth $1,728,000 after buying an additional 878 shares during the period. Hanson & Doremus Investment Management bought a new stake in Loews during the 3rd quarter valued at about $147,000. Finally, Brown Advisory Inc. purchased a new stake in Loews in the 3rd quarter valued at about $244,000. Institutional investors own 58.33% of the company’s stock.

Loews Trading Down 0.1 %

L stock traded down $0.11 during mid-day trading on Friday, reaching $76.43. The company had a trading volume of 588,467 shares, compared to its average volume of 749,565. The firm has a 50 day moving average of $75.86 and a 200 day moving average of $71.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. Loews Co. has a 12 month low of $55.94 and a 12 month high of $78.55. The company has a market capitalization of $16.98 billion, a PE ratio of 12.13 and a beta of 0.82.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter. The company had revenue of $4.26 billion for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.33%. Loews’s dividend payout ratio is currently 3.97%.

Insider Activity at Loews

In other news, Director Andrew H. Tisch sold 125,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total value of $9,130,000.00. Following the completion of the transaction, the director now directly owns 945,886 shares of the company’s stock, valued at approximately $69,087,513.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Paul J. Fribourg sold 951 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the sale, the director now owns 21,200 shares in the company, valued at approximately $1,590,424. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 125,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total value of $9,130,000.00. Following the completion of the sale, the director now directly owns 945,886 shares of the company’s stock, valued at approximately $69,087,513.44. The disclosure for this sale can be found here. Insiders sold 137,563 shares of company stock worth $10,052,551 over the last three months. 18.70% of the stock is owned by corporate insiders.

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.