Dark Forest Capital Management LP Has $1.05 Million Stock Holdings in Loews Co. (NYSE:L)

Dark Forest Capital Management LP lifted its position in shares of Loews Co. (NYSE:L - Free Report) by 118.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,388 shares of the insurance provider's stock after buying an additional 6,714 shares during the period. Dark Forest Capital Management LP's holdings in Loews were worth $1,049,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Loews in the fourth quarter valued at approximately $623,493,000. Geode Capital Management LLC raised its position in 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 in the last quarter. Invesco Ltd. raised its position in 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Loews by 0.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider's stock valued at $268,640,000 after acquiring an additional 8,750 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Loews by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider's stock worth $137,477,000 after purchasing an additional 11,540 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Loews Price Performance

Shares of L stock traded up $0.16 during trading hours on Tuesday, reaching $86.12. The company's stock had a trading volume of 65,490 shares, compared to its average volume of 729,765. Loews Co. has a fifty-two week low of $73.15 and a fifty-two week high of $92.42. The firm's 50 day simple moving average is $86.17 and its 200-day simple moving average is $84.59. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $18.12 billion, a price-to-earnings ratio of 13.44 and a beta of 0.60.

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

Loews Announces Dividend

The business 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 of this dividend was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. Loews's payout ratio is 3.91%.

Insider Buying and Selling at Loews

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan M. Tisch sold 47,636 shares of Loews stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the sale, the director now directly owns 6,705,529 shares of the company's stock, valued at approximately $569,165,301.52. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 151,327 shares of company stock valued at $12,851,055. 18.70% of the stock is currently owned by company insiders.

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.