Y Intercept Hong Kong Ltd Buys New Shares in Loews Co. (NYSE:L)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Loews Co. (NYSE:L - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,018 shares of the insurance provider's stock, valued at approximately $425,000.

Several other institutional investors have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its stake in Loews by 345.4% in the fourth 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 holdings in Loews by 92.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,484 shares of the insurance provider's stock worth $37,745,000 after acquiring an additional 229,956 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Loews by 22.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider's stock valued at $44,992,000 after acquiring an additional 105,810 shares in the last quarter. Barclays PLC raised its holdings in Loews by 13.1% in the third quarter. Barclays PLC now owns 752,380 shares of the insurance provider's stock worth $59,473,000 after buying an additional 87,259 shares during the last quarter. Finally, State Street Corp lifted its position in Loews by 1.0% in the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider's stock valued at $638,506,000 after acquiring an additional 82,581 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

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Loews Price Performance

L stock traded down $0.64 during trading on Thursday, reaching $84.71. The company's stock had a trading volume of 201,079 shares, compared to its average volume of 704,879. The company has a market capitalization of $18.03 billion, a P/E ratio of 13.24 and a beta of 0.83. The company's fifty day moving average is $84.69 and its 200-day moving average is $82.60. Loews Co. has a 1 year low of $72.91 and a 1 year high of $88.29. 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 (NYSE:L - Get Free Report) last posted its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.0625 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. Loews's dividend payout ratio is 3.91%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Jonathan M. Tisch sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the transaction, the director now owns 7,105,529 shares of the company's stock, valued at $604,538,407.32. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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. Insiders have sold a total of 61,224 shares of company stock worth $5,210,120 over the last quarter. Company insiders own 18.70% of the company's stock.

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.