Desjardins Global Asset Management Inc. Increases Stock Holdings in Loews Co. (NYSE:L)

Desjardins Global Asset Management Inc. grew its holdings in shares of Loews Co. (NYSE:L) by 225.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 491 shares of the insurance provider’s stock after purchasing an additional 340 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Loews were worth $34,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in L. Norges Bank purchased a new position in Loews in the fourth quarter valued at $420,569,000. Assenagon Asset Management S.A. grew its position in shares of Loews by 316.1% during the third quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock worth $36,727,000 after buying an additional 440,693 shares in the last quarter. National Pension Service increased its stake in shares of Loews by 2,042.1% during the first quarter. National Pension Service now owns 385,399 shares of the insurance provider’s stock worth $24,982,000 after buying an additional 367,407 shares during the period. Renaissance Technologies LLC raised its holdings in Loews by 495.4% in the first quarter. Renaissance Technologies LLC now owns 285,200 shares of the insurance provider’s stock valued at $18,487,000 after acquiring an additional 237,300 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Loews by 15.4% in the third quarter. Morgan Stanley now owns 1,711,774 shares of the insurance provider’s stock worth $108,372,000 after acquiring an additional 228,660 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Trading Up 2.4 %

Shares of NYSE:L opened at $75.64 on Friday. Loews Co. has a 52 week low of $55.31 and a 52 week high of $78.55. The company’s 50 day moving average is $75.48 and its two-hundred day moving average is $70.86. The company has a market cap of $16.81 billion, a PE ratio of 12.01 and a beta of 0.83. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.48.

Loews (NYSE:L) last posted its earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. The firm had revenue of $4.26 billion for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.33%. The ex-dividend date was Tuesday, February 20th. Loews’s payout ratio is 3.97%.

Insider Activity at Loews

In related news, insider Jonathan M. Tisch sold 4,287 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the transaction, the insider now directly owns 106,870 shares of the company’s stock, valued at approximately $7,685,021.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jonathan M. Tisch sold 4,287 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $71.91, for a total value of $308,278.17. Following the completion of the sale, the insider now directly owns 106,870 shares of the company’s stock, valued at approximately $7,685,021.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Fribourg sold 951 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares of the company’s stock, valued at $1,590,424. The disclosure for this sale can be found here. Insiders sold 137,563 shares of company stock valued at $10,052,551 over the last three months. 18.70% of the stock is owned by corporate insiders.

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.