Loews Co. (NYSE:L) Shares Sold by Summit Global Investments

Summit Global Investments trimmed its position in Loews Co. (NYSE:L - Free Report) by 50.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,253 shares of the insurance provider's stock after selling 3,290 shares during the period. Summit Global Investments' holdings in Loews were worth $275,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Loews in the fourth quarter valued at about $26,000. Brooklyn Investment Group purchased a new stake in Loews during the third quarter worth $40,000. Wilmington Savings Fund Society FSB acquired a new stake in Loews in the third quarter valued at $49,000. Human Investing LLC purchased a new position in shares of Loews in the fourth quarter valued at $51,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Loews during the 4th quarter worth $68,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Insider Activity

In related news, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the transaction, the director now owns 7,105,529 shares of the company's stock, valued at approximately $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders have sold 158,860 shares of company stock worth $13,486,463 over the last 90 days. Company insiders own 18.70% of the company's stock.

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Loews Trading Down 0.8 %

NYSE:L traded down $0.74 on Friday, hitting $90.66. 567,650 shares of the stock were exchanged, compared to its average volume of 718,156. The stock has a market cap of $19.30 billion, a PE ratio of 14.17 and a beta of 0.80. Loews Co. has a fifty-two week low of $72.91 and a fifty-two week high of $92.07. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $85.69 and a 200-day moving average of $83.30.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews's dividend payout ratio (DPR) is 3.91%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Loews from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th.

Loews Company Profile

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.