Mitsubishi UFJ Asset Management Co. Ltd. Acquires 50,104 Shares of Loews Co. (NYSE:L)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Loews Co. (NYSE:L) by 19.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 304,101 shares of the insurance provider’s stock after purchasing an additional 50,104 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Loews were worth $25,651,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Korea Investment CORP grew its stake in Loews by 11.5% in the fourth quarter. Korea Investment CORP now owns 154,018 shares of the insurance provider’s stock worth $13,044,000 after purchasing an additional 15,879 shares in the last quarter. Graney & King LLC bought a new position in shares of Loews during the 4th quarter worth $56,000. Florida Financial Advisors LLC grew its position in shares of Loews by 18.9% during the 4th quarter. Florida Financial Advisors LLC now owns 6,044 shares of the insurance provider’s stock worth $512,000 after buying an additional 962 shares in the last quarter. TIAA Trust National Association increased its stake in shares of Loews by 16.7% during the fourth quarter. TIAA Trust National Association now owns 4,838 shares of the insurance provider’s stock valued at $410,000 after buying an additional 693 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Loews by 14.8% in the fourth quarter. Prudential Financial Inc. now owns 162,256 shares of the insurance provider’s stock valued at $13,741,000 after acquiring an additional 20,874 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Insider Transactions at Loews

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction 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 directly owns 7,105,529 shares of the company’s stock, valued at approximately $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The transaction 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 Loews stock in a transaction dated Thursday, February 6th. The shares were 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 have sold a total of 158,860 shares of company stock valued at $13,486,463 in the last 90 days. Insiders own 18.70% of the company’s stock.

Loews Stock Down 0.8 %

Loews stock opened at $90.66 on Monday. 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 market cap of $19.30 billion, a P/E ratio of 14.17 and a beta of 0.80. The business has a fifty day moving average of $85.78 and a two-hundred day moving average of $83.44. Loews Co. has a twelve month low of $72.91 and a twelve month high of $92.13.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio is currently 3.91%.

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.