State of Tennessee Department of Treasury Acquires 43,075 Shares of Loews Co. (NYSE:L)

State of Tennessee Department of Treasury raised its holdings in shares of Loews Co. (NYSE:L - Free Report) by 60.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,873 shares of the insurance provider's stock after buying an additional 43,075 shares during the quarter. State of Tennessee Department of Treasury owned about 0.05% of Loews worth $9,644,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in Loews in the 4th quarter valued at $623,493,000. Assenagon Asset Management S.A. boosted 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 acquiring an additional 229,965 shares in the last quarter. Boston Partners increased its stake in Loews by 16.9% in the fourth 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 period. Geode Capital Management LLC raised 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 purchasing an additional 210,594 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Loews by 51.2% during the fourth quarter. First Trust Advisors LP now owns 531,038 shares of the insurance provider's stock worth $44,974,000 after purchasing an additional 179,772 shares during the period. 58.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Loews

In other Loews news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan M. Tisch sold 50,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the completion of the transaction, the director now directly owns 6,755,529 shares of the company's stock, valued at approximately $571,923,085.14. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 151,327 shares of company stock valued at $12,851,055 in the last three months. Corporate insiders own 18.70% of the company's stock.

Loews Stock Up 0.6 %

Shares of NYSE:L opened at $86.19 on Thursday. The company's fifty day moving average is $86.01 and its 200-day moving average is $84.34. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a 52 week low of $73.15 and a 52 week high of $92.42. The company has a market capitalization of $18.13 billion, a PE ratio of 13.47 and a beta of 0.60.

Loews (NYSE:L - Get Free Report) last released its quarterly 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 Dividend Announcement

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

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