Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Loews Co. (NYSE:L) by 14.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,414 shares of the insurance provider’s stock after purchasing an additional 6,270 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Loews were worth $2,607,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. TCI Wealth Advisors Inc. boosted its stake in Loews by 100.0% in the fourth quarter. TCI Wealth Advisors Inc. now owns 600 shares of the insurance provider’s stock worth $31,000 after buying an additional 300 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Loews by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 91,134 shares of the insurance provider’s stock worth $4,692,000 after buying an additional 341 shares in the last quarter. Parallel Advisors LLC boosted its stake in Loews by 9.0% in the fourth quarter. Parallel Advisors LLC now owns 4,282 shares of the insurance provider’s stock worth $225,000 after buying an additional 355 shares in the last quarter. DNB Asset Management AS boosted its stake in Loews by 1.3% in the fourth quarter. DNB Asset Management AS now owns 30,779 shares of the insurance provider’s stock worth $1,616,000 after buying an additional 381 shares in the last quarter. Finally, Strs Ohio boosted its stake in Loews by 1.0% in the third quarter. Strs Ohio now owns 40,000 shares of the insurance provider’s stock worth $2,059,000 after buying an additional 399 shares in the last quarter. 61.55% of the stock is owned by institutional investors.
Shares of L stock opened at $54.19 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.33 and a current ratio of 0.33. Loews Co. has a fifty-two week low of $46.29 and a fifty-two week high of $56.88. The stock has a 50 day moving average price of $52.36 and a two-hundred day moving average price of $50.89. The company has a market capitalization of $15.56 billion, a P/E ratio of 15.19 and a beta of 0.64.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 26th will be given a $0.0625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $0.25 annualized dividend and a yield of 0.46%. Loews’s payout ratio is currently 7.00%.
In other Loews news, VP Marc A. Alpert sold 3,526 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $54.13, for a total value of $190,862.38. Following the completion of the sale, the vice president now owns 7,538 shares in the company, valued at $408,031.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Schwartz sold 6,319 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $53.99, for a total value of $341,162.81. Following the completion of the sale, the chief accounting officer now owns 4,725 shares of the company’s stock, valued at approximately $255,102.75. The disclosure for this sale can be found here. Insiders sold 52,830 shares of company stock valued at $2,777,816 in the last quarter. Corporate insiders own 14.20% of the company’s stock.
L has been the subject of several research reports. TheStreet raised Loews from a “c+” rating to a “b-” rating in a research note on Thursday, January 30th. TD Securities cut their target price on Loews from $82.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Loews has an average rating of “Hold” and a consensus target price of $67.50.
Loews Company Profile
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.
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