Davis Selected Advisers Reduces Position in Loews Corporation $L

Davis Selected Advisers lowered its stake in Loews Corporation (NYSE:L) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 597,343 shares of the insurance provider’s stock after selling 1,723 shares during the period. Davis Selected Advisers owned 0.29% of Loews worth $54,752,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in L. Elequin Capital LP acquired a new stake in Loews during the 1st quarter worth about $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Loews during the first quarter worth about $33,000. NewSquare Capital LLC boosted its position in Loews by 404.1% in the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after buying an additional 295 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in Loews by 14,900.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock worth $41,000 after buying an additional 447 shares during the period. Finally, Trust Co. of Toledo NA OH acquired a new position in Loews in the 2nd quarter worth approximately $60,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Loews Price Performance

NYSE:L opened at $104.31 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. The company has a 50 day moving average price of $99.77 and a 200-day moving average price of $94.03. Loews Corporation has a 1-year low of $78.98 and a 1-year high of $105.11. The firm has a market cap of $21.56 billion, a price-to-earnings ratio of 16.58 and a beta of 0.73.

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

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio is presently 3.62%.

Loews 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.