KLP Kapitalforvaltning AS Purchases New Stake in Loews Co. (NYSE:L)

KLP Kapitalforvaltning AS acquired a new position in Loews Co. (NYSE:L - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 150,276 shares of the insurance provider's stock, valued at approximately $12,727,000. KLP Kapitalforvaltning AS owned about 0.07% of Loews as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of L. Venturi Wealth Management LLC boosted its holdings in Loews by 10.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider's stock valued at $105,000 after purchasing an additional 119 shares during the last quarter. Wedmont Private Capital boosted its stake in shares of Loews by 5.2% in the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider's stock worth $249,000 after buying an additional 151 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in Loews by 2.6% during the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider's stock worth $477,000 after acquiring an additional 153 shares during the period. Mather Group LLC. raised its position in Loews by 7.7% during the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider's stock valued at $190,000 after acquiring an additional 161 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in Loews by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider's stock valued at $285,000 after acquiring an additional 183 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

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Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Andrew H. Tisch sold 7,533 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the transaction, the director now directly owns 1,568,191 shares in the company, valued at $132,276,910.85. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,860 shares of company stock worth $13,486,463. 18.70% of the stock is owned by corporate insiders.

Loews Price Performance

Shares of L stock traded down $0.74 during mid-day trading on Friday, hitting $90.66. 567,650 shares of the stock were exchanged, compared to its average volume of 718,156. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 52-week low of $72.91 and a 52-week high of $92.07. The firm has a fifty day moving average of $85.78 and a 200 day moving average of $83.37. The company has a market cap of $19.30 billion, a PE ratio of 14.17 and a beta of 0.80.

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

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.28%. Loews's dividend payout ratio (DPR) is currently 3.91%.

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.