Mitsubishi UFJ Trust & Banking Corp Sells 41,213 Shares of Loews Corporation $L

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Loews Corporation (NYSE:L) by 23.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,579 shares of the insurance provider’s stock after selling 41,213 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Loews worth $13,209,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in L. SJS Investment Consulting Inc. lifted its position in shares of Loews by 880.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 229 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Loews during the second quarter valued at approximately $27,000. NewSquare Capital LLC raised its stake in Loews by 404.1% during the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after buying an additional 295 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Loews by 14,900.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 447 shares in the last quarter. Finally, MTM Investment Management LLC bought a new stake in Loews during the 2nd quarter valued at about $41,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Down 0.4%

L opened at $102.24 on Wednesday. The stock has a market capitalization of $21.13 billion, a price-to-earnings ratio of 14.82 and a beta of 0.61. The firm has a 50 day moving average price of $104.96 and a 200-day moving average price of $100.05. Loews Corporation has a twelve month low of $78.98 and a twelve month high of $109.06. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.44.

Loews (NYSE:L) last issued its earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. The company had revenue of $4.67 billion for the quarter. Loews had a net margin of 7.95% and a return on equity of 7.89%.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s payout ratio is presently 3.62%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Loews news, Director Ann E. Berman sold 1,444 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $108.10, for a total value of $156,096.40. Following the transaction, the director directly owned 6,686 shares of the company’s stock, valued at approximately $722,756.60. This trade represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul J. Fribourg sold 1,442 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $108.13, for a total transaction of $155,923.46. Following the sale, the director directly owned 400 shares of the company’s stock, valued at $43,252. The trade was a 78.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 125,770 shares of company stock valued at $13,325,818 over the last ninety days. 18.70% of the stock is owned by insiders.

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.