Summit Global Investments Has $2.83 Million Stake in Loews Co. (NYSE:L)

Summit Global Investments grew its holdings in Loews Co. (NYSE:L - Free Report) by 847.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,813 shares of the insurance provider's stock after purchasing an additional 27,560 shares during the period. 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 and other institutional investors also recently made changes to their positions in the business. Venturi Wealth Management LLC increased its holdings in shares of Loews by 10.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider's stock valued at $105,000 after purchasing an additional 119 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Loews by 3.2% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock valued at $329,000 after purchasing an additional 122 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Loews by 7.7% in the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider's stock valued at $190,000 after purchasing an additional 161 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Loews by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider's stock valued at $285,000 after purchasing an additional 183 shares during the last quarter. Finally, Tevis Investment Management increased its holdings in shares of Loews by 0.7% in the fourth quarter. Tevis Investment Management now owns 33,345 shares of the insurance provider's stock valued at $2,824,000 after purchasing an additional 220 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

Shares of Loews stock traded up $0.50 during trading on Friday, reaching $89.21. The company's stock had a trading volume of 1,596,589 shares, compared to its average volume of 726,163. The business's 50-day moving average price is $87.24 and its 200-day moving average price is $85.76. The firm has a market cap of $18.71 billion, a PE ratio of 13.94 and a beta of 0.70. Loews Co. has a 52 week low of $73.15 and a 52 week high of $92.42. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

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

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a $0.0625 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. Loews's payout ratio is presently 4.11%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard Waldo Scott sold 9,019 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the sale, the senior vice president now directly owns 33,901 shares of the company's stock, 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 valued at $9,069,294. 19.00% of the stock is owned by company insiders.

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.