DnB Asset Management AS Has $2.84 Million Stock Holdings in Loews Co. (NYSE:L)

DnB Asset Management AS lifted its holdings in shares of Loews Co. (NYSE:L) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 33,490 shares of the insurance provider’s stock after acquiring an additional 1,980 shares during the period. DnB Asset Management AS’s holdings in Loews were worth $2,836,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Halbert Hargrove Global Advisors LLC acquired a new position in Loews during the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Loews in the 3rd quarter worth about $49,000. Human Investing LLC acquired a new stake in shares of Loews during the 4th quarter worth about $51,000. Graney & King LLC bought a new position in Loews during the 4th quarter valued at about $56,000. Finally, Intact Investment Management Inc. acquired a new position in Loews in the fourth quarter valued at about $68,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Loews Price Performance

Shares of L stock opened at $91.95 on Tuesday. The stock’s fifty day moving average is $85.89 and its 200-day moving average is $83.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a 52 week low of $72.91 and a 52 week high of $92.35. The stock has a market capitalization of $19.57 billion, a PE ratio of 14.37 and a beta of 0.80.

Loews (NYSE:L) last issued its quarterly earnings data 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 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 given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Insiders Place Their Bets

In other news, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the transaction, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,860 shares of company stock valued at $13,486,463. 18.70% of the stock is currently owned by corporate insiders.

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.