Norges Bank Makes New Investment in Loews Co. (NYSE:L)

Norges Bank bought a new stake in Loews Co. (NYSE:L - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,362,063 shares of the insurance provider's stock, valued at approximately $623,493,000. Norges Bank owned approximately 3.38% of Loews as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of L. Assenagon Asset Management S.A. grew its stake in Loews by 345.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider's stock worth $25,114,000 after acquiring an additional 229,965 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in Loews by 92.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,484 shares of the insurance provider's stock worth $37,745,000 after buying an additional 229,956 shares during the last quarter. Boston Partners grew its holdings in Loews by 16.9% in the 4th quarter. Boston Partners now owns 1,499,417 shares of the insurance provider's stock valued at $126,983,000 after buying an additional 217,115 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Loews during the 4th quarter valued at about $12,727,000. Finally, Amundi lifted its holdings in shares of Loews by 9.7% during the 4th quarter. Amundi now owns 1,012,829 shares of the insurance provider's stock worth $84,602,000 after acquiring an additional 89,902 shares during the period. Hedge funds and other institutional investors own 58.33% of the company's stock.

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Loews Trading Up 1.4 %

L stock traded up $1.31 during trading on Monday, reaching $91.95. 883,042 shares of the stock traded hands, compared to its average volume of 718,813. The business's 50 day moving average price is $85.78 and its 200-day moving average price is $83.44. The firm has a market capitalization of $19.57 billion, a PE ratio of 14.37 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 52-week low of $72.91 and a 52-week high of $92.36.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.27%. Loews's payout ratio is currently 3.91%.

Insider Buying and Selling

In other Loews news, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the transaction, the director now owns 1,568,191 shares of the company's stock, valued at $132,276,910.85. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 47,636 shares of Loews stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total value of $4,043,343.68. Following the completion of the transaction, the director now owns 6,705,529 shares of the company's stock, valued at approximately $569,165,301.52. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 158,860 shares of company stock valued at $13,486,463. Corporate insiders own 18.70% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Loews from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th.

About Loews

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.