Renaissance Technologies LLC Has $36.21 Million Holdings in Loews Corporation $L

Renaissance Technologies LLC decreased its position in shares of Loews Corporation (NYSE:L) by 10.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 339,200 shares of the insurance provider’s stock after selling 39,400 shares during the period. Renaissance Technologies LLC’s holdings in Loews were worth $36,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of L. DV Equities LLC bought a new position in Loews in the 4th quarter valued at $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Loews in the fourth quarter valued at $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Loews in the third quarter valued at about $30,000. Private Trust Co. NA lifted its position in Loews by 896.7% during the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after buying an additional 269 shares in the last quarter. Finally, SHP Wealth Management bought a new stake in Loews during the 4th quarter worth about $35,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Performance

Loews stock opened at $119.64 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a 1 year low of $89.32 and a 1 year high of $121.01. The company has a market cap of $24.62 billion, a PE ratio of 15.20 and a beta of 0.52. The company’s 50-day moving average is $111.14 and its two-hundred day moving average is $108.86.

Loews (NYSE:L) last issued its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The company had revenue of $4.55 billion for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 27th. Loews’s payout ratio is currently 3.18%.

Insider Buying and Selling

In other Loews news, Director Dino Robusto bought 5,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was bought at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the transaction, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.00% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.