7,362,063 Shares in Loews Co. (NYSE:L) Purchased by Norges Bank

Norges Bank acquired a new position in Loews Co. (NYSE:L) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,362,063 shares of the insurance provider’s stock, valued at approximately $623,493,000. Norges Bank owned approximately 3.38% of Loews at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC purchased a new position in Loews during the fourth quarter worth approximately $26,000. Brooklyn Investment Group purchased a new position in shares of Loews during the 3rd quarter valued at approximately $40,000. Wilmington Savings Fund Society FSB acquired a new stake in Loews in the 3rd quarter valued at $49,000. Human Investing LLC acquired a new stake in Loews in the 4th quarter valued at $51,000. Finally, Graney & King LLC purchased a new stake in Loews in the 4th quarter worth $56,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the transaction, the director now directly owns 7,105,529 shares in the company, valued at $604,538,407.32. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $635,408.55. Following the sale, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. This trade represents a 0.48 % decrease in their ownership of the stock. 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 over the last 90 days. 18.70% of the stock is owned by company insiders.

Loews Price Performance

Shares of L stock opened at $90.66 on Friday. The firm’s 50-day moving average is $85.78 and its two-hundred day moving average is $83.37. Loews Co. has a 12 month low of $72.91 and a 12 month high of $92.13. 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 company has a market capitalization of $19.30 billion, a PE ratio of 14.17 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 earnings per share 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 announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews’s payout ratio is currently 3.91%.

Loews 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.