Loews Co. (NYSE:L) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in shares of Loews Co. (NYSE:L - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,600 shares of the insurance provider's stock after selling 28,400 shares during the period. Renaissance Technologies LLC owned 0.07% of Loews worth $12,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Loews in the fourth quarter worth $623,493,000. Assenagon Asset Management S.A. raised its position in shares of Loews by 345.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider's stock valued at $25,114,000 after buying an additional 229,965 shares in the last quarter. Boston Partners lifted its holdings in shares of 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 acquiring an additional 217,115 shares during the last quarter. Geode Capital Management LLC grew its position in Loews by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock worth $378,087,000 after acquiring an additional 210,594 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Loews during the fourth quarter valued at approximately $12,727,000. Institutional investors own 58.33% of the company's stock.

Loews Trading Up 0.1 %

Shares of L traded up $0.07 during mid-day trading on Friday, reaching $85.27. 536,344 shares of the company's stock traded hands, compared to its average volume of 734,715. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The stock's 50-day moving average is $85.91 and its two-hundred day moving average is $84.20. Loews Co. has a 12 month low of $73.15 and a 12 month high of $92.42. The stock has a market cap of $17.94 billion, a P/E ratio of 13.32 and a beta of 0.60.

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

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews's dividend payout ratio (DPR) is presently 3.91%.

Insider Activity

In other news, Director Jonathan M. Tisch sold 47,636 shares of Loews stock in a transaction 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 transaction, the director now directly owns 6,705,529 shares in the company, valued at approximately $569,165,301.52. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were 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 quarter, insiders sold 151,327 shares of company stock valued at $12,851,055. Corporate insiders own 18.70% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Loews from a "buy" rating to a "hold" rating in a 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.