Loews Co. (NYSE:L) Stake Decreased by Strs Ohio

Strs Ohio decreased its position in shares of Loews Co. (NYSE:L) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,396 shares of the insurance provider’s stock after selling 607 shares during the period. Strs Ohio’s holdings in Loews were worth $3,089,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in L. Norges Bank bought a new stake in Loews during the fourth quarter worth approximately $420,569,000. Assenagon Asset Management S.A. grew its position in Loews by 316.1% in the third quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock worth $36,727,000 after buying an additional 440,693 shares during the last quarter. National Pension Service grew its position in Loews by 2,042.1% in the first quarter. National Pension Service now owns 385,399 shares of the insurance provider’s stock worth $24,982,000 after buying an additional 367,407 shares during the last quarter. Renaissance Technologies LLC grew its position in Loews by 495.4% in the first quarter. Renaissance Technologies LLC now owns 285,200 shares of the insurance provider’s stock worth $18,487,000 after buying an additional 237,300 shares during the last quarter. Finally, Morgan Stanley grew its position in Loews by 15.4% in the third quarter. Morgan Stanley now owns 1,711,774 shares of the insurance provider’s stock worth $108,372,000 after buying an additional 228,660 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Loews Trading Up 1.0 %

Loews stock opened at $73.84 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $16.41 billion, a price-to-earnings ratio of 11.72 and a beta of 0.83. Loews Co. has a 1 year low of $55.31 and a 1 year high of $78.55. The firm’s 50 day moving average price is $75.42 and its two-hundred day moving average price is $70.70.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%. The firm had revenue of $4.26 billion for the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.34%. The ex-dividend date was Tuesday, February 20th. Loews’s payout ratio is 3.97%.

Insider Activity

In other news, Director Paul J. Fribourg sold 951 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $75.02, for a total transaction of $71,344.02. Following the transaction, the director now directly owns 21,200 shares in the company, valued at approximately $1,590,424. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jonathan M. Tisch sold 4,287 shares of Loews stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the completion of the sale, the insider now owns 106,870 shares of the company’s stock, valued at approximately $7,685,021.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul J. Fribourg sold 951 shares of Loews stock in a transaction on Friday, March 1st. The shares were sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The disclosure for this sale can be found here. Insiders have sold a total of 137,563 shares of company stock worth $10,052,551 in the last ninety days. Corporate 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.