Summit Global Investments Invests $1.13 Million in Loews Corporation $L

Summit Global Investments bought a new stake in Loews Corporation (NYSE:L) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 9,970 shares of the insurance provider’s stock, valued at approximately $1,129,000.

A number of other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in Loews by 2.3% during the first quarter. NewEdge Advisors LLC now owns 4,168 shares of the insurance provider’s stock worth $445,000 after purchasing an additional 95 shares during the last quarter. Lido Advisors LLC grew its position in Loews by 3.9% in the 1st quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider’s stock worth $277,000 after purchasing an additional 97 shares in the last quarter. Hancock Whitney Corp increased its stake in Loews by 3.9% in the 3rd quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider’s stock valued at $263,000 after buying an additional 98 shares during the last quarter. IFM Investors Pty Ltd increased its stake in Loews by 0.3% in the 4th quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider’s stock valued at $3,356,000 after buying an additional 100 shares during the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of Loews by 4.3% during the 4th quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider’s stock worth $274,000 after buying an additional 107 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Loews

In other Loews news, Director Dino Robusto bought 5,000 shares of Loews stock in a transaction dated Friday, May 29th. The stock was purchased at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the purchase, the director directly owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 19.00% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Strong Buy”.

Loews Stock Up 0.3%

Shares of NYSE L opened at $113.11 on Friday. Loews Corporation has a one year low of $94.36 and a one year high of $121.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The business’s fifty day moving average price is $113.33 and its 200-day moving average price is $109.91. The stock has a market capitalization of $23.12 billion, a PE ratio of 13.86 and a beta of 0.52.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.The company had revenue of $4.73 billion during the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid a $0.0625 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.06%.

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.