Loews Corporation $L Shares Sold by Ervin Investment Management LLC

Key Points

• Ervin Investment Management LLC trimmed its Loews stake by 58.7% in Q4, selling 46,995 shares and leaving 33,063 shares valued at about $3.48M; Loews now represents 1.6% of Ervin's portfolio and is its 13th-largest position.
• Significant insider selling has occurred recently: Director Andrew H. Tisch sold 50,000 shares for $5.44M on March 11, and insiders have sold 105,417 shares totaling $11.55M in the last 90 days, though insiders still own 19% of the company.
• Loews reported quarterly EPS of $1.94 on $4.73B revenue, trades near $107.85 with a market cap of $22.19B and a P/E of 13.52, and pays a modest annualized dividend of $0.25 (yield ~0.2%).

Ervin Investment Management LLC trimmed its position in Loews Corporation (NYSE:L - Free Report) by 58.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,063 shares of the insurance provider's stock after selling 46,995 shares during the quarter. Loews makes up 1.6% of Ervin Investment Management LLC's investment portfolio, making the stock its 13th largest position. Ervin Investment Management LLC's holdings in Loews were worth $3,482,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Aaron Wealth Advisors LLC raised its holdings in shares of Loews by 7.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 8,800 shares of the insurance provider's stock valued at $927,000 after purchasing an additional 622 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Loews by 7.0% in the 4th quarter. Signaturefd LLC now owns 4,379 shares of the insurance provider's stock valued at $461,000 after purchasing an additional 286 shares in the last quarter. Ascent Group LLC raised its holdings in shares of Loews by 31.0% in the 4th quarter. Ascent Group LLC now owns 3,060 shares of the insurance provider's stock valued at $322,000 after purchasing an additional 724 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Loews in the 4th quarter valued at $27,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Loews in the 4th quarter valued at $285,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

Shares of NYSE:L opened at $107.85 on Wednesday. The company's fifty day moving average price is $108.27 and its 200 day moving average price is $104.93. Loews Corporation has a 12 month low of $80.00 and a 12 month high of $114.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $22.19 billion, a P/E ratio of 13.52 and a beta of 0.59.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.94 EPS for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%. The firm had revenue of $4.73 billion for the quarter.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, February 25th. Loews's dividend payout ratio (DPR) is currently 3.13%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "buy (a-)" rating on shares of Loews in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has an average rating of "Strong Buy".

Insider Buying and Selling

In related news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the sale, the director directly owned 12,480,400 shares in the company, valued at $1,357,992,324. This trade represents a 0.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann E. Berman sold 1,922 shares of Loews stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total transaction of $211,727.52. Following the sale, the director owned 4,998 shares in the company, valued at $550,579.68. This represents a 27.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 105,417 shares of company stock worth $11,549,723 in the last ninety days. 19.00% of the stock is owned by corporate insiders.

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.

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