Pictet Asset Management SA raised its stake in Loews Co. (NYSE:L – Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,744 shares of the insurance provider’s stock after purchasing an additional 2,519 shares during the period. Pictet Asset Management SA’s holdings in Loews were worth $5,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of L. Norges Bank acquired a new stake in shares of Loews during the 4th quarter worth about $420,569,000. National Pension Service raised its position in shares of Loews by 2,042.1% during the 1st quarter. National Pension Service now owns 385,399 shares of the insurance provider’s stock worth $24,982,000 after acquiring an additional 367,407 shares in the last quarter. Martingale Asset Management L P raised its position in shares of Loews by 587.8% during the 4th quarter. Martingale Asset Management L P now owns 326,026 shares of the insurance provider’s stock worth $19,017,000 after acquiring an additional 278,624 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Loews by 495.4% during the 1st quarter. Renaissance Technologies LLC now owns 285,200 shares of the insurance provider’s stock worth $18,487,000 after acquiring an additional 237,300 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Loews by 83.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 507,005 shares of the insurance provider’s stock worth $29,574,000 after acquiring an additional 231,291 shares in the last quarter. Institutional investors and hedge funds own 55.75% of the company’s stock.
Loews Trading Up 1.0 %
L opened at $61.97 on Thursday. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 11.78 and a beta of 0.83. Loews Co. has a 52 week low of $49.36 and a 52 week high of $63.93. The business’s 50 day moving average is $60.85 and its two-hundred day moving average is $59.16. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.52.
Loews Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, August 15th. Loews’s dividend payout ratio (DPR) is 4.75%.
Insiders Place Their Bets
In related news, major shareholder Corp Loews bought 4,456,050 shares of the stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $39.29 per share, for a total transaction of $175,078,204.50. Following the purchase, the insider now owns 248,414,738 shares of the company’s stock, valued at approximately $9,760,215,056.02. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Corp Loews bought 4,456,050 shares of the stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $39.29 per share, for a total transaction of $175,078,204.50. Following the purchase, the insider now owns 248,414,738 shares of the company’s stock, valued at approximately $9,760,215,056.02. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ann E. Berman sold 474 shares of Loews stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $56.30, for a total value of $26,686.20. Following the completion of the transaction, the director now owns 3,292 shares in the company, valued at $185,339.60. The disclosure for this sale can be found here. Insiders have bought a total of 4,676,050 shares of company stock valued at $187,644,605 over the last quarter. Company insiders own 18.30% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com started coverage on Loews in a research report on Thursday, August 17th. They set a “buy” rating on the stock.
Get Our Latest Stock Report on Loews
Loews Company Profile
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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.
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