Summit Global Investments Purchases New Shares in Loews Co. (NYSE:L)

Summit Global Investments purchased a new position in shares of Loews Co. (NYSE:L) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,095 shares of the insurance provider’s stock, valued at approximately $2,164,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in shares of Loews by 8.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,221 shares of the insurance provider’s stock valued at $267,000 after purchasing an additional 313 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Loews by 3.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 469,106 shares of the insurance provider’s stock worth $29,699,000 after buying an additional 15,912 shares during the last quarter. Xponance Inc. raised its position in Loews by 3.3% in the third quarter. Xponance Inc. now owns 27,295 shares of the insurance provider’s stock worth $1,728,000 after acquiring an additional 878 shares during the period. Hanson & Doremus Investment Management purchased a new position in Loews in the third quarter valued at about $147,000. Finally, Brown Advisory Inc. bought a new position in shares of Loews during the 3rd quarter valued at approximately $244,000. 58.33% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Richard Waldo Scott sold 7,325 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $74.12, for a total transaction of $542,929.00. Following the completion of the transaction, the senior vice president now directly owns 51,965 shares in the company, valued at approximately $3,851,645.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Richard Waldo Scott sold 7,325 shares of Loews stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $74.12, for a total transaction of $542,929.00. Following the completion of the sale, the senior vice president now owns 51,965 shares in the company, valued at approximately $3,851,645.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul J. Fribourg sold 951 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the transaction, the director now owns 21,200 shares in the company, valued at $1,590,424. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,563 shares of company stock worth $10,052,551. 18.70% of the stock is owned by company insiders.

Loews Stock Performance

Shares of NYSE L traded down $0.11 during trading on Friday, reaching $76.43. 588,467 shares of the stock traded hands, compared to its average volume of 749,565. The company has a 50-day moving average of $75.86 and a 200-day moving average of $71.60. Loews Co. has a 52-week low of $55.94 and a 52-week high of $78.55. The stock has a market capitalization of $16.98 billion, a P/E ratio of 12.13 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%. The company had revenue of $4.26 billion for the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Tuesday, February 20th. Loews’s payout ratio is 3.97%.

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.