Mitsubishi UFJ Asset Management Co. Ltd. Reduces Stock Position in Loews Corporation $L

Mitsubishi UFJ Asset Management Co. Ltd. lessened its holdings in Loews Corporation (NYSE:L) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 330,026 shares of the insurance provider’s stock after selling 6,678 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Loews were worth $33,131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of L. Integrated Wealth Concepts LLC grew its holdings in shares of Loews by 22.6% in the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock worth $329,000 after purchasing an additional 658 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Loews by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock valued at $2,108,000 after buying an additional 2,057 shares in the last quarter. Empowered Funds LLC lifted its holdings in Loews by 12.2% during the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock valued at $350,000 after buying an additional 414 shares in the last quarter. Woodline Partners LP boosted its position in Loews by 37.5% in the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after buying an additional 4,071 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in Loews by 38.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 37,589 shares of the insurance provider’s stock worth $3,445,000 after acquiring an additional 10,512 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

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

Loews Stock Up 0.5%

Shares of Loews stock opened at $109.98 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $22.66 billion, a price-to-earnings ratio of 13.78 and a beta of 0.60. The firm’s 50-day moving average is $106.46 and its two-hundred day moving average is $102.74. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $114.90.

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

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th will be issued 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 dividend payout ratio is currently 3.13%.

Insiders Place Their Bets

In other Loews news, Director Ann E. Berman sold 1,922 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total transaction of $211,727.52. Following the sale, the director owned 4,998 shares of the company’s stock, valued at approximately $550,579.68. This trade represents a 27.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Marc A. Alpert sold 3,495 shares of Loews stock in a transaction 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 135,417 shares of company stock worth $14,529,823 over the last 90 days. Company insiders own 18.70% of the company’s stock.

About Loews

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.