Renaissance Technologies LLC Increases Holdings in Loews Co. (L)

Renaissance Technologies LLC lifted its holdings in shares of Loews Co. (NYSE:L) by 73.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,082,400 shares of the insurance provider’s stock after acquiring an additional 456,600 shares during the quarter. Renaissance Technologies LLC owned about 0.32% of Loews worth $54,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of L. Wells Fargo & Company MN grew its position in shares of Loews by 15.9% during the 3rd quarter. Wells Fargo & Company MN now owns 5,038,288 shares of the insurance provider’s stock valued at $241,132,000 after buying an additional 689,401 shares during the last quarter. St. James Investment Company LLC acquired a new position in Loews during the 3rd quarter valued at about $29,452,000. PGGM Investments boosted its stake in Loews by 49.0% during the 4th quarter. PGGM Investments now owns 1,009,500 shares of the insurance provider’s stock valued at $50,505,000 after purchasing an additional 331,850 shares during the period. Systematic Financial Management LP acquired a new position in Loews during the 4th quarter valued at about $16,398,000. Finally, Geode Capital Management LLC lifted its stake in shares of Loews by 10.2% in the 4th quarter. Geode Capital Management LLC now owns 3,201,581 shares of the insurance provider’s stock worth $159,855,000 after acquiring an additional 295,475 shares during the period. Institutional investors and hedge funds own 64.35% of the company’s stock.

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In other news, insider Jonathan M. Tisch sold 7,800 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $47.51, for a total value of $370,578.00. Following the transaction, the insider now owns 2,990,022 shares of the company’s stock, valued at approximately $142,055,945.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth I. Siegel sold 6,242 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $50.23, for a total transaction of $313,535.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,316 shares of company stock valued at $697,655. Corporate insiders own 11.80% of the company’s stock.

L has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Loews from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Desjardins lowered shares of Loews to a “hold” rating and set a $76.00 target price for the company. in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.00.

Shares of L traded down $1.13 during mid-day trading on Friday, hitting $49.38. 1,834,423 shares of the company’s stock were exchanged, compared to its average volume of 1,572,709. Loews Co. has a twelve month low of $45.01 and a twelve month high of $53.59. The firm has a market cap of $16,418.25, a price-to-earnings ratio of 17.27 and a beta of 0.70. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.46.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 12th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.12. Loews had a net margin of 8.47% and a return on equity of 4.08%. The business had revenue of $3.56 billion during the quarter. During the same period in the prior year, the company posted $0.73 earnings per share. Loews’s quarterly revenue was up 6.5% on a year-over-year basis. research analysts predict that Loews Co. will post 3.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Wednesday, February 28th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Tuesday, February 27th. Loews’s dividend payout ratio is 8.74%.

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Loews Profile

Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.

Institutional Ownership by Quarter for Loews (NYSE:L)

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