KLP Kapitalforvaltning AS Has $10.84 Million Stake in Loews Corporation (NYSE:L)

KLP Kapitalforvaltning AS lowered its stake in Loews Corporation (NYSE:L - Free Report) by 21.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,976 shares of the insurance provider's stock after selling 32,300 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.06% of Loews worth $10,843,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Gilder Gagnon Howe & Co. LLC lifted its stake in Loews by 3.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock valued at $329,000 after buying an additional 122 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in Loews by 3.5% during the first quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock valued at $354,000 after buying an additional 130 shares in the last quarter. Signaturefd LLC lifted its stake in Loews by 4.0% during the first quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock valued at $362,000 after buying an additional 152 shares in the last quarter. Salvus Wealth Management LLC lifted its stake in Loews by 1.4% during the first quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock valued at $1,089,000 after buying an additional 165 shares in the last quarter. Finally, Flynn Zito Capital Management LLC lifted its stake in Loews by 5.9% during the first quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider's stock valued at $304,000 after buying an additional 183 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Insider Transactions at Loews

In related news, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the transaction, the senior vice president directly owned 33,901 shares in the company, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.00% of the stock is currently owned by company insiders.

Loews Stock Performance

Shares of Loews stock traded up $0.39 during midday trading on Friday, hitting $91.65. The company had a trading volume of 436,659 shares, compared to its average volume of 785,397. The business's 50 day simple moving average is $89.86 and its two-hundred day simple moving average is $87.25. The stock has a market cap of $19.22 billion, a PE ratio of 15.05 and a beta of 0.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.33 and a quick ratio of 0.33. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $93.23.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The firm had revenue of $4.49 billion during the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.27%. Loews's payout ratio is presently 4.11%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

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.