Summit Global Investments Buys 27,560 Shares of Loews Co. (NYSE:L)

Summit Global Investments boosted its holdings in Loews Co. (NYSE:L - Free Report) by 847.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,813 shares of the insurance provider's stock after purchasing an additional 27,560 shares during the quarter. Summit Global Investments' holdings in Loews were worth $2,832,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in L. Venturi Wealth Management LLC increased its holdings in shares of Loews by 10.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider's stock valued at $105,000 after acquiring an additional 119 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Loews by 3.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock valued at $329,000 after buying an additional 122 shares during the last quarter. Mather Group LLC. boosted its position in shares of Loews by 7.7% during the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider's stock valued at $190,000 after buying an additional 161 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Loews by 5.9% during the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider's stock valued at $285,000 after buying an additional 183 shares during the last quarter. Finally, Tevis Investment Management boosted its position in shares of Loews by 0.7% during the fourth quarter. Tevis Investment Management now owns 33,345 shares of the insurance provider's stock valued at $2,824,000 after buying an additional 220 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the transaction, the director now owns 6,755,529 shares of the company's stock, valued at $571,923,085.14. This represents a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard Waldo Scott sold 9,019 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the transaction, the senior vice president now directly owns 33,901 shares in the company, valued at $2,980,575.92. This represents a 21.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,655 shares of company stock worth $9,069,294. Insiders own 19.00% of the company's stock.

Loews Stock Down 0.3%

Shares of NYSE:L traded down $0.28 during mid-day trading on Tuesday, hitting $89.39. 155,227 shares of the company traded hands, compared to its average volume of 750,344. The stock has a market cap of $18.74 billion, a P/E ratio of 13.97 and a beta of 0.70. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 12-month low of $73.15 and a 12-month high of $92.42. The stock has a 50-day moving average price of $87.22 and a two-hundred day moving average price of $85.82.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. The business had revenue of $4.49 billion for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews's dividend payout ratio (DPR) is presently 4.11%.

Analyst Ratings Changes

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

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.