Summit Global Investments Sells 18,902 Shares of Loews Corporation $L

Summit Global Investments lessened its stake in Loews Corporation (NYSE:L) by 61.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,911 shares of the insurance provider’s stock after selling 18,902 shares during the quarter. Summit Global Investments’ holdings in Loews were worth $1,092,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Aaron Wealth Advisors LLC lifted its stake in Loews by 3.9% in the second quarter. Aaron Wealth Advisors LLC now owns 3,754 shares of the insurance provider’s stock valued at $344,000 after acquiring an additional 142 shares during the last quarter. BSW Wealth Partners raised its holdings in shares of Loews by 5.4% in the 2nd quarter. BSW Wealth Partners now owns 2,812 shares of the insurance provider’s stock valued at $258,000 after purchasing an additional 143 shares during the period. Flagship Harbor Advisors LLC raised its holdings in shares of Loews by 5.3% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,856 shares of the insurance provider’s stock valued at $262,000 after purchasing an additional 143 shares during the period. Fielder Capital Group LLC lifted its stake in Loews by 1.1% in the 2nd quarter. Fielder Capital Group LLC now owns 13,775 shares of the insurance provider’s stock valued at $1,263,000 after purchasing an additional 150 shares during the last quarter. Finally, Lafayette Investments Inc. grew its holdings in Loews by 0.3% during the second quarter. Lafayette Investments Inc. now owns 73,393 shares of the insurance provider’s stock worth $6,727,000 after purchasing an additional 201 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Up 0.8%

Shares of L opened at $107.27 on Tuesday. The firm’s 50-day simple moving average is $100.97 and its 200 day simple moving average is $95.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $22.17 billion, a P/E ratio of 17.05 and a beta of 0.73. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $107.49.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The company had revenue of $3.94 billion during the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Wednesday, November 26th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Loews’s dividend payout ratio is currently 3.62%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

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.