Summit Global Investments Has $1.09 Million Holdings in Loews Corporation $L

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

Other large investors have also added to or reduced their stakes in the company. Aaron Wealth Advisors LLC increased its stake in Loews by 3.9% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,754 shares of the insurance provider’s stock worth $344,000 after acquiring an additional 142 shares during the period. BSW Wealth Partners grew its holdings in shares of Loews by 5.4% during the 2nd quarter. BSW Wealth Partners now owns 2,812 shares of the insurance provider’s stock worth $258,000 after purchasing an additional 143 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in shares of Loews by 5.3% in the second quarter. Flagship Harbor Advisors LLC now owns 2,856 shares of the insurance provider’s stock worth $262,000 after purchasing an additional 143 shares during the period. Fielder Capital Group LLC raised its stake in Loews by 1.1% in the second 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 in the last quarter. Finally, Lafayette Investments Inc. lifted its position 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. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews presently has a consensus rating of “Strong Buy”.

Loews Price Performance

Loews stock opened at $107.27 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $107.49. The stock has a market capitalization of $22.17 billion, a P/E ratio of 17.05 and a beta of 0.73. The stock has a fifty day moving average of $100.97 and a 200-day moving average of $95.04.

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

Loews Announces Dividend

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

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.