Amundi Increases Stock Position in Loews Co. (NYSE:L)

Amundi increased its position in Loews Co. (NYSE:L) by 9.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,012,829 shares of the insurance provider’s stock after purchasing an additional 89,902 shares during the period. Amundi’s holdings in Loews were worth $84,602,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in L. Halbert Hargrove Global Advisors LLC purchased a new position in Loews in the 4th quarter worth approximately $26,000. Brooklyn Investment Group purchased a new stake in Loews during the 3rd quarter valued at $40,000. Wilmington Savings Fund Society FSB purchased a new stake in Loews during the 3rd quarter valued at $49,000. Human Investing LLC purchased a new stake in Loews during the 4th quarter valued at $51,000. Finally, Assetmark Inc. raised its stake in Loews by 117.2% during the 4th quarter. Assetmark Inc. now owns 832 shares of the insurance provider’s stock valued at $70,000 after buying an additional 449 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Loews Price Performance

Shares of L opened at $84.65 on Wednesday. The firm has a market cap of $18.02 billion, a PE ratio of 13.23 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 firm has a fifty day simple moving average of $84.71 and a two-hundred day simple moving average of $82.78. Loews Co. has a 1-year low of $72.91 and a 1-year high of $88.29.

Loews (NYSE:L) last posted its quarterly earnings data 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. Loews’s dividend payout ratio (DPR) is 3.91%.

Insider Transactions at Loews

In related news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the transaction, the director now owns 7,105,529 shares of the company’s stock, valued at approximately $604,538,407.32. This represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrew H. Tisch sold 7,533 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was 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 directly owns 1,568,191 shares of the company’s stock, valued at $132,276,910.85. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,224 shares of company stock worth $5,210,120 in the last three months. Corporate insiders own 18.70% of the company’s stock.

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 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.