Assenagon Asset Management S.A. Lowers Stock Position in Loews Co. (NYSE:L)

Assenagon Asset Management S.A. cut its holdings in shares of Loews Co. (NYSE:L - Free Report) by 59.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 233,174 shares of the insurance provider's stock after selling 346,933 shares during the period. Assenagon Asset Management S.A. owned 0.10% of Loews worth $16,227,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of Loews during the third quarter valued at approximately $29,000. Operose Advisors LLC purchased a new stake in Loews in the third quarter worth $30,000. Eagle Bay Advisors LLC purchased a new stake in Loews in the second quarter worth $36,000. Rockefeller Capital Management L.P. grew its stake in Loews by 40.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 705 shares of the insurance provider's stock worth $40,000 after purchasing an additional 202 shares during the period. Finally, Washington Trust Advisors Inc. purchased a new stake in Loews in the third quarter worth $51,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Up 0.2 %

L stock traded up $0.19 during midday trading on Thursday, hitting $78.29. The stock had a trading volume of 747,252 shares, compared to its average volume of 783,561. The firm has a market cap of $17.40 billion, a price-to-earnings ratio of 12.43 and a beta of 0.82. The business has a 50-day moving average of $74.52 and a two-hundred day moving average of $69.47. Loews Co. has a 52-week low of $55.31 and a 52-week high of $78.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32.

Loews (NYSE:L - Get Free Report) last released its earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%. The firm had revenue of $4.26 billion for the quarter.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were paid a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.32%. Loews's dividend payout ratio is currently 3.97%.

Insider Transactions at Loews

In other news, Director Paul J. Fribourg sold 951 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the transaction, the director now directly owns 21,200 shares of the company's stock, valued at $1,590,424. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $74.12, for a total value of $542,929.00. Following the transaction, the senior vice president now owns 51,965 shares of the company's stock, valued at $3,851,645.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul J. Fribourg sold 951 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the transaction, the director now directly owns 21,200 shares in the company, valued at approximately $1,590,424. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,563 shares of company stock valued at $10,052,551. Insiders own 18.30% 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.