KLP Kapitalforvaltning AS Purchases New Shares in Loews Co. (NYSE:L)

KLP Kapitalforvaltning AS purchased a new stake in Loews Co. (NYSE:L) during the 4th quarter, HoldingsChannel reports. The firm purchased 150,276 shares of the insurance provider’s stock, valued at approximately $12,727,000.

Several other large investors have also added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in Loews by 6.9% in the fourth quarter. American Century Companies Inc. now owns 89,589 shares of the insurance provider’s stock valued at $7,587,000 after acquiring an additional 5,750 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in Loews by 45.0% in the fourth quarter. Mizuho Securities USA LLC now owns 17,131 shares of the insurance provider’s stock valued at $1,451,000 after acquiring an additional 5,316 shares in the last quarter. Millstone Evans Group LLC bought a new stake in Loews in the fourth quarter valued at $98,000. iA Global Asset Management Inc. boosted its holdings in Loews by 16.0% in the fourth quarter. iA Global Asset Management Inc. now owns 5,360 shares of the insurance provider’s stock valued at $454,000 after acquiring an additional 740 shares in the last quarter. Finally, Vinva Investment Management Ltd boosted its holdings in shares of Loews by 4.3% during the 4th quarter. Vinva Investment Management Ltd now owns 64,310 shares of the insurance provider’s stock valued at $5,427,000 after buying an additional 2,664 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In other Loews news, Director Andrew H. Tisch sold 7,533 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the transaction, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. The trade was a 0.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan M. Tisch sold 47,636 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $84.88, for a total value of $4,043,343.68. Following the completion of the transaction, the director now directly owns 6,705,529 shares of the company’s stock, valued at approximately $569,165,301.52. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,860 shares of company stock valued at $13,486,463 in the last quarter. 18.70% of the stock is owned by insiders.

Loews Stock Performance

Shares of L stock opened at $87.22 on Monday. Loews Co. has a 12 month low of $72.91 and a 12 month high of $88.66. The stock has a market cap of $18.57 billion, a PE ratio of 13.63 and a beta of 0.80. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average price is $85.23 and its 200-day moving average price is $83.07.

Loews (NYSE:L) last announced its 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 business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio is presently 3.91%.

Analysts Set New Price Targets

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