Loews Co. (NYSE:L) Holdings Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in shares of Loews Co. (NYSE:L) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,600 shares of the insurance provider’s stock after selling 28,400 shares during the period. Renaissance Technologies LLC owned about 0.07% of Loews worth $12,754,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Loews during the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Loews in the third quarter worth $49,000. Human Investing LLC bought a new stake in Loews in the fourth quarter valued at $51,000. Graney & King LLC acquired a new position in shares of Loews during the fourth quarter valued at $56,000. Finally, Intact Investment Management Inc. bought a new position in shares of Loews during the fourth quarter worth about $68,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Down 0.2 %

L opened at $86.14 on Wednesday. The stock’s 50 day moving average price is $85.94 and its 200 day moving average price is $84.11. 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 has a market cap of $18.12 billion, a P/E ratio of 13.46 and a beta of 0.60. Loews Co. has a 12 month low of $72.91 and a 12 month high of $92.42.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS 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 disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid 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 dividend yield of 0.29%. Loews’s dividend payout ratio is presently 3.91%.

Insider Buying and Selling

In other news, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction on 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 sale, the director now owns 6,755,529 shares in the company, valued at approximately $571,923,085.14. This represents a 0.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction on Thursday, February 6th. The stock was 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 151,327 shares of company stock valued at $12,851,055 over the last quarter. Corporate insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Loews from a “buy” rating to a “hold” rating in a research 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.