Davis Selected Advisers Has $55.06 Million Stock Holdings in Loews Corporation (NYSE:L)

Key Points

• Davis Selected Advisers reduced its position in Loews Corporation by 1.2%, now holding 599,066 shares valued at approximately $55 million after selling 7,131 shares in the first quarter.
• Other institutional investors like National Bank of Canada FI and Citigroup Inc. increased their holdings in Loews, with increases of 51.3% and 43.7%, respectively.
• Loews recently announced a quarterly dividend of $0.0625 per share, representing an annualized yield of 0.3%, set to be paid on September 2nd.

Davis Selected Advisers reduced its stake in Loews Corporation (NYSE:L - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 599,066 shares of the insurance provider's stock after selling 7,131 shares during the quarter. Davis Selected Advisers owned 0.29% of Loews worth $55,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in L. Wayfinding Financial LLC bought a new position in Loews in the 1st quarter valued at about $25,000. Minot DeBlois Advisors LLC bought a new position in shares of Loews during the fourth quarter worth approximately $27,000. Sierra Ocean LLC increased its holdings in shares of Loews by 805.9% during the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock worth $28,000 after purchasing an additional 274 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of Loews by 387.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock worth $37,000 after purchasing an additional 345 shares during the period. Finally, NBC Securities Inc. bought a new position in shares of Loews during the first quarter worth approximately $40,000. 58.33% of the stock is owned by institutional investors.

Loews Stock Performance

Shares of L traded up $0.55 during mid-day trading on Friday, hitting $93.78. 536,605 shares of the company's stock were exchanged, compared to its average volume of 774,076. Loews Corporation has a 52 week low of $75.16 and a 52 week high of $94.62. The stock's 50-day simple moving average is $90.62 and its 200-day simple moving average is $87.86. The firm has a market cap of $19.45 billion, a price-to-earnings ratio of 14.91 and a beta of 0.69. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43.

Loews (NYSE:L - Get Free Report) last announced its earnings results on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The company had revenue of $4.56 billion for the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. Loews's dividend payout ratio (DPR) is currently 3.97%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Loews from a "hold" rating to a "buy" rating in a report on Tuesday, May 6th.

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.