Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in Loews Co. (NYSE:L)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Loews Co. (NYSE:L) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,892 shares of the insurance provider’s stock after buying an additional 623 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Loews were worth $1,106,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its stake in shares of Loews by 316.1% in the third quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock worth $36,727,000 after purchasing an additional 440,693 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Loews by 118.9% in the third quarter. The Manufacturers Life Insurance Company now owns 286,708 shares of the insurance provider’s stock worth $18,151,000 after purchasing an additional 155,713 shares during the last quarter. Barclays PLC grew its stake in shares of Loews by 34.9% in the third quarter. Barclays PLC now owns 577,591 shares of the insurance provider’s stock worth $36,568,000 after purchasing an additional 149,500 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of Loews by 115.4% in the third quarter. Bank of Nova Scotia now owns 270,421 shares of the insurance provider’s stock worth $17,120,000 after purchasing an additional 144,902 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Loews by 3,984.2% in the third quarter. Jump Financial LLC now owns 146,910 shares of the insurance provider’s stock worth $9,301,000 after purchasing an additional 143,313 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Down 0.5 %

NYSE L opened at $76.41 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market capitalization of $16.98 billion, a PE ratio of 12.13 and a beta of 0.83. Loews Co. has a 1 year low of $55.31 and a 1 year high of $78.55. The business’s 50-day moving average is $75.71 and its 200 day moving average is $71.18.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. The business had revenue of $4.26 billion for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.25 annualized dividend and a yield of 0.33%. Loews’s payout ratio is 3.97%.

Insider Buying and Selling at Loews

In other Loews news, Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the sale, the director now directly owns 945,886 shares of the company’s stock, valued at approximately $69,087,513.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Andrew H. Tisch sold 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total value of $9,130,000.00. Following the sale, the director now directly owns 945,886 shares of the company’s stock, valued at approximately $69,087,513.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Paul J. Fribourg sold 951 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares in the company, valued at $1,590,424. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,563 shares of company stock valued at $10,052,551. 18.70% of the stock is currently owned by corporate 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.