Eubel Brady & Suttman Asset Management Inc. Sells 5,343 Shares of Loews Corporation $L

Eubel Brady & Suttman Asset Management Inc. lowered its stake in shares of Loews Corporation (NYSE:L) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 254,038 shares of the insurance provider’s stock after selling 5,343 shares during the quarter. Loews comprises approximately 3.0% of Eubel Brady & Suttman Asset Management Inc.’s investment portfolio, making the stock its 11th largest holding. Eubel Brady & Suttman Asset Management Inc. owned about 0.12% of Loews worth $26,753,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cibc World Market Inc. increased its holdings in shares of Loews by 448.6% during the third quarter. Cibc World Market Inc. now owns 24,540 shares of the insurance provider’s stock valued at $2,464,000 after acquiring an additional 20,067 shares in the last quarter. Caprock Group LLC acquired a new position in Loews in the 3rd quarter worth approximately $2,748,000. Truist Financial Corp increased its holdings in Loews by 388.3% in the 3rd quarter. Truist Financial Corp now owns 14,331 shares of the insurance provider’s stock worth $1,439,000 after buying an additional 11,396 shares during the period. Rakuten Investment Management Inc. acquired a new position in Loews in the 3rd quarter worth approximately $3,827,000. Finally, National Pension Service increased its holdings in Loews by 30.5% in the 3rd quarter. National Pension Service now owns 46,960 shares of the insurance provider’s stock worth $4,714,000 after buying an additional 10,986 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Price Performance

Shares of NYSE:L opened at $105.86 on Friday. Loews Corporation has a twelve month low of $86.77 and a twelve month high of $114.90. The company’s 50 day moving average is $108.15 and its 200 day moving average is $106.44. 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 company has a market cap of $21.78 billion, a PE ratio of 13.45 and a beta of 0.56.

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

Loews Dividend Announcement

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

Insider Buying and Selling

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 12,480,400 shares in the company, valued at approximately $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 accessible through this link. Corporate insiders own 19.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.