LSV Asset Management Decreases Stock Position in Loews Corporation $L

LSV Asset Management reduced its position in Loews Corporation (NYSE:L) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,100 shares of the insurance provider’s stock after selling 12,700 shares during the period. LSV Asset Management’s holdings in Loews were worth $9,488,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in Loews in the 4th quarter worth approximately $27,000. Harbor Investment Advisory LLC purchased a new stake in Loews during the 4th quarter valued at $30,000. Private Trust Co. NA raised its stake in Loews by 896.7% during the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock valued at $31,000 after buying an additional 269 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Loews during the 3rd quarter valued at $30,000. Finally, Westfuller Advisors LLC purchased a new stake in Loews during the 4th quarter valued at $36,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Price Performance

Shares of L opened at $108.97 on Tuesday. The firm has a market cap of $22.42 billion, a PE ratio of 13.85 and a beta of 0.56. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $108.08 and a two-hundred day simple moving average of $106.88. Loews Corporation has a 1-year low of $86.77 and a 1-year high of $114.90.

Loews (NYSE:L) last announced its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. The business had revenue of $4.56 billion during the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, May 27th. Loews’s dividend payout ratio is 3.18%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Insider Activity at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total value of $5,440,500.00. Following the completion of the sale, the director directly owned 12,480,400 shares in the company, valued at $1,357,992,324. This represents a 0.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 19.00% of the stock is owned by company insiders.

Loews 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.