Loews Corporation $L Shares Sold by Emmett Investment Management LP

Emmett Investment Management LP cut its position in Loews Corporation (NYSE:LFree Report) by 17.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,254 shares of the insurance provider’s stock after selling 19,920 shares during the quarter. Loews comprises approximately 7.7% of Emmett Investment Management LP’s holdings, making the stock its 2nd biggest position. Emmett Investment Management LP’s holdings in Loews were worth $10,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. DV Equities LLC acquired a new position in shares of Loews during the 4th quarter worth about $25,000. Harbor Capital Advisors Inc. bought a new stake in shares of Loews in the 4th quarter valued at about $27,000. Private Trust Co. NA lifted its stake in Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 269 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Loews in the 3rd quarter valued at about $30,000. Finally, SHP Wealth Management bought a new position in Loews during the fourth quarter worth about $35,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

NYSE:L opened at $118.55 on Tuesday. The stock has a 50 day simple moving average of $110.90 and a 200 day simple moving average of $108.76. The stock has a market cap of $24.39 billion, a P/E ratio of 15.06 and a beta of 0.52. Loews Corporation has a 1-year low of $89.32 and a 1-year high of $119.10. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

Loews (NYSE:LGet Free Report) last announced its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The firm had revenue of $4.55 billion for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s payout ratio is 3.18%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

Read Our Latest Stock Analysis on Loews

Insider Buying and Selling

In other Loews news, Director Dino Robusto bought 5,000 shares of the stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the purchase, the director owned 10,235 shares in the company, valued at $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 19.00% of the company’s stock.

About Loews

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Loews (NYSE:L)

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