Groupama Asset Managment Buys Shares of 17,162 Loews Corporation $L

Groupama Asset Managment bought a new position in Loews Corporation (NYSE:L) during the 3rd quarter, Holdings Channel.com reports. The fund bought 17,162 shares of the insurance provider’s stock, valued at approximately $1,723,000.

A number of other large investors have also made changes to their positions in L. Norges Bank bought a new position in shares of Loews in the 2nd quarter worth approximately $665,658,000. Danske Bank A S purchased a new position in shares of Loews in the third quarter worth approximately $35,724,000. Dark Forest Capital Management LP grew its position in Loews by 582.8% during the third quarter. Dark Forest Capital Management LP now owns 221,212 shares of the insurance provider’s stock valued at $22,207,000 after buying an additional 188,812 shares during the period. Amundi grew its position in Loews by 41.6% during the third quarter. Amundi now owns 610,657 shares of the insurance provider’s stock valued at $62,513,000 after buying an additional 179,383 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Loews by 43.2% during the third quarter. CANADA LIFE ASSURANCE Co now owns 446,639 shares of the insurance provider’s stock valued at $44,492,000 after buying an additional 134,777 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Performance

Shares of L opened at $105.65 on Friday. The business has a 50-day simple moving average of $107.29 and a two-hundred day simple moving average of $103.92. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.43. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $114.90. The stock has a market cap of $21.77 billion, a price-to-earnings ratio of 13.24 and a beta of 0.60.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $1.94 earnings per share for the quarter. The firm had revenue of $4.73 billion for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s payout ratio is currently 3.13%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

Insider Buying and Selling at Loews

In other Loews news, VP Marc A. Alpert sold 3,495 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total value of $383,995.65. Following the completion of the transaction, the vice president directly owned 16,325 shares in the company, valued at $1,793,627.75. This represents a 17.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the sale, the director directly owned 12,480,400 shares of the company’s stock, valued at approximately $1,357,992,324. This trade represents a 0.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 105,417 shares of company stock valued at $11,549,723 over the last 90 days. 19.00% of the stock is currently owned by corporate insiders.

Loews 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.