DnB Asset Management AS Increases Stock Position in Loews Co. (NYSE:L)

DnB Asset Management AS grew its stake in shares of Loews Co. (NYSE:LGet Rating) by 17.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,404 shares of the insurance provider’s stock after acquiring an additional 10,000 shares during the quarter. DnB Asset Management AS’s holdings in Loews were worth $3,935,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Loews in the fourth quarter worth approximately $424,424,000. National Pension Service boosted its holdings in shares of Loews by 2,042.1% in the first quarter. National Pension Service now owns 385,399 shares of the insurance provider’s stock worth $24,982,000 after buying an additional 367,407 shares during the last quarter. Ergoteles LLC boosted its holdings in shares of Loews by 5,286.4% in the first quarter. Ergoteles LLC now owns 269,484 shares of the insurance provider’s stock worth $17,468,000 after buying an additional 264,481 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Loews by 9.3% in the fourth quarter. Invesco Ltd. now owns 3,099,773 shares of the insurance provider’s stock worth $179,043,000 after buying an additional 263,772 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Loews by 495.4% in the first quarter. Renaissance Technologies LLC now owns 285,200 shares of the insurance provider’s stock worth $18,487,000 after buying an additional 237,300 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TheStreet downgraded shares of Loews from a “b” rating to a “c” rating in a report on Monday, August 1st. StockNews.com downgraded shares of Loews from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd.

Loews Price Performance

Shares of NYSE:L opened at $55.11 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.35 and a quick ratio of 0.35. Loews Co. has a 1-year low of $51.35 and a 1-year high of $68.20. The company has a market capitalization of $13.28 billion, a P/E ratio of 12.79 and a beta of 0.81. The firm’s 50 day simple moving average is $56.74 and its two-hundred day simple moving average is $60.60.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Wednesday, August 17th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.45%. The ex-dividend date was Tuesday, August 16th. Loews’s dividend payout ratio is currently 5.80%.

Insider Buying and Selling at Loews

In related news, major shareholder Corp Loews acquired 48,199 shares of Loews stock in a transaction dated Tuesday, September 6th. The shares were purchased at an average price of $39.56 per share, for a total transaction of $1,906,752.44. Following the completion of the transaction, the insider now directly owns 243,430,501 shares in the company, valued at approximately $9,630,110,619.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought 197,676 shares of company stock valued at $7,780,976 over the last 90 days. 17.50% of the stock is currently owned by corporate insiders.

Loews Company Profile

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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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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