DnB Asset Management AS grew its stake in shares of Loews Co. (NYSE:L – Get 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
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
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.
- Get a free copy of the StockNews.com research report on Loews (L)
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