87,129 Shares in Loews Co. (NYSE:L) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new position in Loews Co. (NYSE:L) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 87,129 shares of the insurance provider’s stock, valued at approximately $7,379,000.

Several other large investors also recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in shares of Loews by 33.2% in the third quarter. Janus Henderson Group PLC now owns 25,249 shares of the insurance provider’s stock worth $1,996,000 after buying an additional 6,300 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Loews by 15.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 3,114 shares of the insurance provider’s stock worth $246,000 after purchasing an additional 411 shares during the last quarter. State Street Corp raised its stake in shares of Loews by 1.0% in the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after purchasing an additional 82,581 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Loews by 56.4% during the third quarter. Kovitz Investment Group Partners LLC now owns 60,041 shares of the insurance provider’s stock worth $4,505,000 after purchasing an additional 21,654 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Loews by 71.9% during the third quarter. National Bank of Canada FI now owns 104,949 shares of the insurance provider’s stock worth $8,296,000 after purchasing an additional 43,906 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Loews Stock Performance

Loews stock opened at $80.98 on Tuesday. The company has a market cap of $17.03 billion, a PE ratio of 12.65 and a beta of 0.60. Loews Co. has a 12 month low of $72.91 and a 12 month high of $92.42. The company has a fifty day moving average price of $86.16 and a two-hundred day moving average price of $83.85. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is 3.91%.

Insider Activity at Loews

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the sale, the director now owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders sold 151,327 shares of company stock worth $12,851,055 in the last 90 days. 18.70% of the stock is currently owned by company insiders.

Loews Company 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.