LSV Asset Management Trims Stake in Loews Corporation $L

LSV Asset Management trimmed its stake in Loews Corporation (NYSE:L) by 12.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,100 shares of the insurance provider’s stock after selling 12,700 shares during the period. LSV Asset Management’s holdings in Loews were worth $9,488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Loews in the 4th quarter worth $27,000. Harbor Investment Advisory LLC purchased a new stake in shares of Loews in the 4th quarter worth $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Loews in the 3rd quarter worth $30,000. Private Trust Co. NA increased its stake in shares of Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 269 shares in the last quarter. Finally, Westfuller Advisors LLC purchased a new stake in shares of Loews in the 4th quarter worth $36,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total value of $5,440,500.00. Following the completion of the transaction, the director owned 12,480,400 shares of the company’s stock, valued at approximately $1,357,992,324. This represents a 0.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 19.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

Loews Trading Up 0.1%

Shares of Loews stock opened at $108.97 on Tuesday. The company has a market capitalization of $22.42 billion, a P/E ratio of 13.85 and a beta of 0.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. The company has a fifty day moving average of $108.08 and a 200 day moving average of $106.88. Loews Corporation has a fifty-two week low of $86.77 and a fifty-two week high of $114.90.

Loews (NYSE:L) last issued its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. The company had revenue of $4.56 billion during the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio is currently 3.18%.

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.