I am pleased to announce that we have hired Mr. Nick Allen to work as an intern this summer. He will be assigned a number of projects for the company including various analyses, research projects and technology studies.
Nick is a finance major at Indiana University of Pennsylvania (IUP) and is on track to graduate in December of this year. His courses of study include finance, investment, economics and management. Nick also serves as the Sector Leader of the Consumer Staples Section of the Student Managed Investment Portfolio organization at the college. This student organization is quite successful as it currently has $1.7 million in assets under management and has outperformed the S&P 500 over the last five quarters.
In addition to his financial studies and experiences, Nick has worked in the computer labs for the IUP Libraries. In this capacity he assists library employees and patrons with computer hardware...
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On April 28, 2018, Covington Investment Advisors sponsored the Westmoreland Symphony Orchestra (WSO) Concert titled “Fauré Requiem”.
At Covington, not only do we strive to meet our clients’ financial goals, we also focus on making a difference in our community. Fostering creativity in our schools is the key to continued growth and success for children and Covington is passionate about helping our children. Recognizing the diminishing arts programs in our schools and the many societal challenges that we face, we have felt compelled to do something about that. And so, we have been underwriting music and art programs in our community through our business and family foundations, some of which are facilitated through the Westmoreland Symphony Orchestra.
This year Covington Investment Advisors, Inc., through the WSO, has established an award to recognize the private music teachers in our community to give long overlooked recognition for their impact on our children... 
Covington Investment Advisors, Inc. is pleased to announce that Sarah E. Rovedatti has joined our firm as Chief Compliance Officer. Sarah has over nine years’ experience working in the financial services industry holding various positions in client service and compliance. She is a graduate of Lycoming College with a B.A. in Business Administration and earned her MBA at Villanova University.
Sarah will be responsible for maintaining, developing and monitoring the firm’s compliance program, ensuring that all activities of the firm meet regulatory requirements. She will also be acting as a liaison with legal and regulatory bodies on compliance-related issues.
Covington recently presented their observations on the market and economy at our annual shooting event held at Pike Run Country Club. Please find our presentation commentary below.
The economy’s recent performance is real and is supported by sound economic fundamentals. GDP growth is shifting from Obama’s anemic growth rate of 1.8% to 3+% in the last two quarters. This growth rate of 3+% back to back quarters has not happened for over ten years. While GDP for 2016 will come in around 2.2% this year, 2018 is looking good as well with a projected growth rate of 2.6%. Global GDP is at 3.6%. The economy is continuing to expand and by definition a recession is declared when we experience three negative quarters of GDP so this bull market cycle continues.
The roll back of regulations by President Trump has business confidence soaring. Companies are spending again on capital... 
High Intensity Drug Trafficking Area (HIDTA) designation is key to providing a Multi-Jurisdictional Task Force in Western Pennsylvania to curb the source of drugs supplying the Opioid Epidemic.
As an ongoing effort to have our congressional representative apply for a Federal High Intensity Drug Trafficking Area (HIDTA) designation for Westmoreland County, I recently met with the Acting United States Attorney for the Western District of Pennsylvania, Soo. C. Song, Retired Chancellor of the University of Pittsburgh and Chair of the Institute of Politics, Mark A. Nordenberg, and Director of the University of Pittsburgh School of Pharmacy, Janice L. Pringle. If we are to have any impact on the overdose death rate in our area we must stop the supply of illicit drugs. Attorney Song assured me that the application for a multi county “HIDTA” designation for our area is clearly justified and continues to be developed. I told her there is... 
Covington Investment Advisors, Inc. of Ligonier is proud to announce that our Portfolio Manager, Ms. Cindy Jones, has successfully completed Level I of the three-part Chartered Financial Analyst (CFA) exam. After completion of all three levels and other work related requirements Ms. Jones can become a CFA Charter holder.
Covington Investment Advisors is a federally registered investment advisory firm which provides personalized comprehensive wealth management services to high net worth individuals. Its philosophy is to invest long term in proven enterprises of high-quality securities. Accounts are managed on a separate account basis with Charles Schwab & Co., Inc. as the primary custodian.
Covington Investment Advisors congratulates Ms. Jones on her accomplishment and we have confidence that she will complete the next two levels as successfully as the first.