Renaissance Technologies LLC Sells 28,400 Shares of Loews Co. (NYSE:L)

Renaissance Technologies LLC lowered its position in shares of Loews Co. (NYSE:L - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,600 shares of the insurance provider's stock after selling 28,400 shares during the quarter. Renaissance Technologies LLC owned 0.07% of Loews worth $12,754,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in L. Bank of Nova Scotia increased its stake in Loews by 90.2% in the 4th quarter. Bank of Nova Scotia now owns 53,610 shares of the insurance provider's stock valued at $4,540,000 after buying an additional 25,425 shares during the last quarter. Invesco Ltd. raised its stake in shares of Loews by 0.8% during the 4th quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider's stock worth $377,920,000 after purchasing an additional 33,428 shares in the last quarter. Cerity Partners LLC increased its holdings in Loews by 3.8% during the fourth quarter. Cerity Partners LLC now owns 30,893 shares of the insurance provider's stock worth $2,550,000 after buying an additional 1,138 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Loews by 66.3% in the fourth quarter. Russell Investments Group Ltd. now owns 118,857 shares of the insurance provider's stock valued at $10,066,000 after acquiring an additional 47,394 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Loews by 3.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 173,823 shares of the insurance provider's stock worth $14,721,000 after purchasing an additional 6,055 shares during the last quarter. Institutional investors own 58.33% of the company's stock.

Loews Stock Performance

NYSE L traded down $1.17 during trading on Monday, reaching $84.16. The company's stock had a trading volume of 28,714 shares, compared to its average volume of 731,850. 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 12 month low of $73.15 and a 12 month high of $92.42. The firm has a 50 day moving average price of $85.91 and a 200 day moving average price of $84.28. The firm has a market capitalization of $17.70 billion, a price-to-earnings ratio of 13.15 and a beta of 0.60.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. Loews's dividend payout ratio (DPR) is presently 3.91%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Loews from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.

Insider Buying and Selling

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 47,636 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the sale, the director now owns 6,705,529 shares in the company, valued at approximately $569,165,301.52. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 151,327 shares of company stock worth $12,851,055 in the last ninety days. Company insiders own 18.70% 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.