Two Sigma Advisers LP Invests $1.22 Million in Loews Co. (NYSE:L)

Two Sigma Advisers LP acquired a new stake in shares of Loews Co. (NYSE:L - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 14,400 shares of the insurance provider's stock, valued at approximately $1,220,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Loews during the fourth quarter worth $623,493,000. Boston Partners boosted its holdings in Loews by 16.9% in the 4th quarter. Boston Partners now owns 1,499,417 shares of the insurance provider's stock valued at $126,983,000 after purchasing an additional 217,115 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Loews by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock worth $378,087,000 after acquiring an additional 210,594 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Loews by 51.2% in the 4th quarter. First Trust Advisors LP now owns 531,038 shares of the insurance provider's stock worth $44,974,000 after acquiring an additional 179,772 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Loews during the 4th quarter worth approximately $12,727,000. Institutional investors own 58.33% of the company's stock.

Analysts Set New Price Targets

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

Loews Stock Down 0.0%

Shares of L traded down $0.03 during midday trading on Tuesday, reaching $89.64. The stock had a trading volume of 281,946 shares, compared to its average volume of 723,983. Loews Co. has a 1-year low of $73.15 and a 1-year high of $92.42. The company's fifty day simple moving average is $87.22 and its two-hundred day simple moving average is $85.82. The company has a market cap of $18.80 billion, a price-to-earnings ratio of 14.01 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The business had revenue of $4.49 billion for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Wednesday, May 28th. Loews's payout ratio is 4.11%.

Insiders Place Their Bets

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $84.66, for a total value of $4,233,000.00. Following the completion of the transaction, the director now directly owns 6,755,529 shares in the company, valued at approximately $571,923,085.14. The trade was a 0.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard Waldo Scott sold 9,019 shares of the company's stock in a transaction 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 sale, the senior vice president now owns 33,901 shares of the company's stock, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,655 shares of company stock worth $9,069,294. Company insiders own 19.00% 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.