Kovitz Investment Group Partners LLC Has $2.23 Million Holdings in Loews Corporation $L

Kovitz Investment Group Partners LLC lessened its position in Loews Corporation (NYSE:L) by 56.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 21,131 shares of the insurance provider’s stock after selling 27,923 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Loews were worth $2,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Compound Planning Inc. boosted its holdings in Loews by 6.4% during the fourth quarter. Compound Planning Inc. now owns 6,352 shares of the insurance provider’s stock valued at $669,000 after acquiring an additional 381 shares during the period. Corient Private Wealth LLC increased its stake in shares of Loews by 58.9% in the fourth quarter. Corient Private Wealth LLC now owns 96,243 shares of the insurance provider’s stock worth $10,135,000 after purchasing an additional 35,690 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of Loews by 27.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 147,535 shares of the insurance provider’s stock worth $15,537,000 after purchasing an additional 31,530 shares during the last quarter. Beacon Pointe Advisors LLC lifted its position in shares of Loews by 15.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 15,745 shares of the insurance provider’s stock worth $1,658,000 after purchasing an additional 2,075 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Loews by 32.0% during the 4th quarter. Mackenzie Financial Corp now owns 40,470 shares of the insurance provider’s stock valued at $4,289,000 after purchasing an additional 9,820 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Price Performance

NYSE:L opened at $107.48 on Friday. The stock has a market cap of $22.12 billion, a P/E ratio of 13.66 and a beta of 0.53. Loews Corporation has a one year low of $88.36 and a one year high of $114.90. The company has a fifty day moving average price of $107.96 and a 200 day moving average price of $107.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36.

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

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews’s dividend payout ratio (DPR) is presently 3.18%.

Insider Buying and Selling at Loews

In other news, Director Dino Robusto bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the transaction, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.00% of the company’s stock.

Analysts Set New Price Targets

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

Loews Company Profile

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.