Kovitz Investment Group Partners LLC Has $2.23 Million Stock Holdings in Loews Corporation $L

Kovitz Investment Group Partners LLC decreased its stake in Loews Corporation (NYSE:L) by 56.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,131 shares of the insurance provider’s stock after selling 27,923 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Loews were worth $2,225,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of L. Integrated Wealth Concepts LLC raised its holdings in shares of Loews by 22.6% during the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock worth $329,000 after acquiring an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Loews by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after purchasing an additional 2,057 shares during the last quarter. Empowered Funds LLC increased its position in Loews by 12.2% in the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after purchasing an additional 414 shares during the last quarter. Woodline Partners LP raised its stake in shares of Loews by 37.5% during the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock worth $1,372,000 after purchasing an additional 4,071 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Loews by 53.5% during the 2nd quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock worth $656,000 after purchasing an additional 2,493 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity

In related news, Director Dino Robusto acquired 5,000 shares of the stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the acquisition, the director owned 10,235 shares in the company, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 19.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews presently has an average rating of “Strong Buy”.

Loews Stock Up 0.2%

Loews stock opened at $107.48 on Friday. The company has a market capitalization of $22.12 billion, a P/E ratio of 13.66 and a beta of 0.53. The firm’s fifty day simple moving average is $107.96 and its 200-day simple moving average is $107.08. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a 1-year low of $88.36 and a 1-year high of $114.90.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The firm had revenue of $4.55 billion during the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Announces Dividend

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

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.