Mitsubishi UFJ Asset Management Co. Ltd. Lowers Holdings in Loews Corporation $L

Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in Loews Corporation (NYSE:L) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 330,026 shares of the insurance provider’s stock after selling 6,678 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Loews worth $33,131,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in L. CPC Advisors LLC purchased a new stake in shares of Loews in the third quarter worth about $6,568,000. Swedbank AB grew its holdings in Loews by 9.7% during the 3rd quarter. Swedbank AB now owns 443,106 shares of the insurance provider’s stock valued at $44,483,000 after buying an additional 39,313 shares in the last quarter. Assetmark Inc. grew its holdings in Loews by 182.2% during the 2nd quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock valued at $180,000 after buying an additional 1,270 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in Loews in the 3rd quarter worth approximately $3,827,000. Finally, Caprock Group LLC purchased a new stake in shares of Loews during the 3rd quarter worth approximately $2,748,000. Institutional investors own 58.33% of the company’s stock.

Loews Trading Up 0.5%

Shares of NYSE L opened at $109.98 on Monday. The business’s 50 day moving average is $106.46 and its two-hundred day moving average is $102.74. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a 1-year low of $78.98 and a 1-year high of $114.90. The stock has a market capitalization of $22.66 billion, a P/E ratio of 13.78 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 (EPS) for the quarter. The business had revenue of $4.73 billion during the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, February 25th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s payout ratio is 3.13%.

Insider Buying and Selling at Loews

In related news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $110.27, for a total transaction of $5,513,500.00. Following the transaction, the director directly owned 12,859,642 shares in the company, valued at approximately $1,418,032,723.34. This represents a 0.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Marc A. Alpert sold 3,495 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total transaction of $383,995.65. Following the completion of the sale, the vice president directly owned 16,325 shares of the company’s stock, valued at approximately $1,793,627.75. The trade was a 17.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 135,417 shares of company stock worth $14,529,823 over the last quarter. Insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

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

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.