Loews Corporation $L Shares Sold by Davis Selected Advisers

Davis Selected Advisers decreased its stake in Loews Corporation (NYSE:L) by 0.3% during the 2nd quarter, Holdings Channel reports. The firm owned 597,343 shares of the insurance provider’s stock after selling 1,723 shares during the quarter. Davis Selected Advisers’ holdings in Loews were worth $54,752,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Loews by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,609,107 shares of the insurance provider’s stock valued at $420,722,000 after buying an additional 28,552 shares in the last quarter. Northern Trust Corp lifted its position in shares of Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider’s stock valued at $206,709,000 after acquiring an additional 151,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Loews by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,496,606 shares of the insurance provider’s stock worth $137,553,000 after acquiring an additional 73,197 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Loews by 1.3% during the first quarter. Hsbc Holdings PLC now owns 724,190 shares of the insurance provider’s stock worth $66,463,000 after purchasing an additional 9,357 shares in the last quarter. Finally, Swedbank AB increased its position in shares of Loews by 44.8% during the first quarter. Swedbank AB now owns 556,350 shares of the insurance provider’s stock worth $51,134,000 after purchasing an additional 172,004 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Loews from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Loews presently has a consensus rating of “Strong Buy”.

Loews Stock Performance

Shares of Loews stock opened at $104.31 on Friday. Loews Corporation has a one year low of $78.98 and a one year high of $105.11. The company has a market cap of $21.56 billion, a price-to-earnings ratio of 16.58 and a beta of 0.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The business’s 50 day moving average price is $99.77 and its 200 day moving average price is $94.03.

Loews (NYSE:L) last issued its earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The business had revenue of $3.94 billion during the quarter.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.0625 per share. The ex-dividend date is Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is currently 3.62%.

About Loews

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.