Diamond Hill Capital Management Inc. Sells 31,600 Shares of Loews Corporation $L

Diamond Hill Capital Management Inc. lowered its holdings in Loews Corporation (NYSE:L) by 24.8% in the 4th quarter, HoldingsChannel reports. The firm owned 95,999 shares of the insurance provider’s stock after selling 31,600 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Loews were worth $10,110,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of L. Harbor Capital Advisors Inc. purchased a new position in shares of Loews in the 4th quarter worth approximately $27,000. Harbor Investment Advisory LLC purchased a new position in shares of Loews in the 4th quarter worth approximately $30,000. Private Trust Co. NA grew its position in shares of Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after buying an additional 269 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Loews in the 3rd quarter worth approximately $30,000. Finally, Westfuller Advisors LLC purchased a new position in shares of Loews in the 4th quarter worth approximately $36,000. Institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company has a consensus rating of “Strong Buy”.

Insiders Place Their Bets

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the sale, the director owned 12,480,400 shares of the company’s stock, valued at approximately $1,357,992,324. The trade was a 0.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.00% of the company’s stock.

Loews Stock Down 0.2%

Shares of Loews stock opened at $108.97 on Friday. The firm’s 50 day moving average price is $108.07 and its 200-day moving average price is $106.77. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a 52-week low of $86.77 and a 52-week high of $114.90. The company has a market cap of $22.42 billion, a P/E ratio of 13.85 and a beta of 0.56.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The firm had revenue of $4.56 billion for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, May 27th. Loews’s payout ratio is currently 3.18%.

About Loews

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.