Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in Loews Co. (NYSE:L)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Loews Co. (NYSE:L) by 25.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 218,841 shares of the insurance provider’s stock after purchasing an additional 44,426 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of Loews worth $17,133,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Loews during the fourth quarter worth approximately $511,159,000. Northern Trust Corp grew its position in Loews by 11.9% in the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock valued at $174,191,000 after buying an additional 266,729 shares during the last quarter. UBS Group AG grew its position in Loews by 60.0% in the 4th quarter. UBS Group AG now owns 555,768 shares of the insurance provider’s stock valued at $38,676,000 after buying an additional 208,356 shares during the last quarter. LSV Asset Management purchased a new position in Loews in the 4th quarter valued at $12,658,000. Finally, TD Asset Management Inc grew its position in Loews by 95.5% in the 4th quarter. TD Asset Management Inc now owns 283,993 shares of the insurance provider’s stock valued at $19,763,000 after buying an additional 138,693 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Stock Performance

NYSE:L traded down $1.63 during midday trading on Friday, reaching $78.16. The stock had a trading volume of 142,398 shares, compared to its average volume of 741,038. Loews Co. has a 12-month low of $60.87 and a 12-month high of $81.11. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $75.79 and a two-hundred day simple moving average of $74.96. The stock has a market cap of $17.31 billion, a P/E ratio of 11.84 and a beta of 0.83.

Loews (NYSE:L) last issued its earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%. The business had revenue of $4.23 billion during the quarter.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Wednesday, May 29th. Loews’s dividend payout ratio (DPR) is presently 3.71%.

Insider Buying and Selling

In related news, insider Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $77.14, for a total transaction of $3,857,000.00. Following the transaction, the insider now directly owns 457,799 shares of the company’s stock, valued at approximately $35,314,614.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 150,000 shares of company stock valued at $11,588,500. Corporate insiders own 18.70% of the company’s stock.

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.