Assenagon Asset Management S.A. Has $25.11 Million Stock Holdings in Loews Co. (NYSE:L)

Assenagon Asset Management S.A. raised its stake in shares of Loews Co. (NYSE:L) by 345.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 296,538 shares of the insurance provider’s stock after buying an additional 229,965 shares during the period. Assenagon Asset Management S.A.’s holdings in Loews were worth $25,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp raised its holdings in shares of Loews by 1.0% during the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after acquiring an additional 82,581 shares in the last quarter. Geode Capital Management LLC increased its position in Loews by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after purchasing an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Loews by 2.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock worth $251,627,000 after purchasing an additional 69,459 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Loews by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after buying an additional 161,810 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Loews by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after buying an additional 8,615 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the transaction, the director now directly owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following the sale, the director now owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,679 shares of company stock worth $11,134,916. 18.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Loews Stock Up 1.5 %

Loews stock opened at $86.11 on Friday. The company has a market capitalization of $18.75 billion, a P/E ratio of 11.44 and a beta of 0.83. Loews Co. has a 1-year low of $70.59 and a 1-year high of $87.45. The firm’s fifty day simple moving average is $84.28 and its 200-day simple moving average is $80.70. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were given a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews’s dividend payout ratio is currently 3.32%.

Loews 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.