Voloridge Investment Management LLC Has $17.14 Million Position in Loews Co. (NYSE:L)

Voloridge Investment Management LLC boosted its position in Loews Co. (NYSE:L - Free Report) by 147.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,417 shares of the insurance provider's stock after purchasing an additional 120,565 shares during the period. Voloridge Investment Management LLC owned 0.09% of Loews worth $17,143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in Loews in the 4th quarter worth about $623,493,000. Geode Capital Management LLC raised its position in shares of Loews by 4.9% during the fourth 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. Invesco Ltd. raised its position in shares of Loews by 0.8% during the fourth quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider's stock worth $377,920,000 after acquiring an additional 33,428 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Loews by 0.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider's stock worth $268,640,000 after acquiring an additional 8,750 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Loews by 2.6% during the fourth quarter. Northern Trust Corp now owns 2,097,608 shares of the insurance provider's stock worth $177,646,000 after acquiring an additional 53,625 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Stock Down 0.3%

L stock opened at $87.51 on Friday. The stock has a market cap of $18.35 billion, a P/E ratio of 13.67 and a beta of 0.70. The stock's fifty day simple moving average is $87.18 and its two-hundred day simple moving average is $85.48. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 1-year low of $73.15 and a 1-year high of $92.42.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. The firm 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. Loews's payout ratio is presently 4.11%.

Insider Buying and Selling at Loews

In related news, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the sale, the senior vice president now directly owns 33,901 shares in the company, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan M. Tisch sold 50,000 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the sale, the director now owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,655 shares of company stock worth $13,323,294 over the last ninety days. 18.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.

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