Mitsubishi UFJ Asset Management Co. Ltd. Buys New Shares in Loews Corporation $L

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Loews Corporation (NYSE:L) during the second quarter, Holdings Channel reports. The firm purchased 422,627 shares of the insurance provider’s stock, valued at approximately $47,846,000.

Several other hedge funds have also recently added to or reduced their stakes in L. Plato Investment Management Ltd purchased a new position in shares of Loews in the 2nd quarter worth about $806,000. Bell Investment Advisors Inc purchased a new position in shares of Loews during the 2nd quarter valued at about $69,000. RW Investment Management LLC bought a new stake in Loews in the 2nd quarter worth approximately $274,000. Global Retirement Partners LLC purchased a new stake in Loews in the second quarter worth approximately $72,000. Finally, Fielder Capital Group LLC purchased a new stake in Loews in the second quarter worth approximately $1,245,000. Institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

Loews Price Performance

L stock opened at $111.29 on Thursday. The firm’s 50-day moving average price is $113.64 and its two-hundred day moving average price is $110.15. The stock has a market capitalization of $22.75 billion, a price-to-earnings ratio of 13.64 and a beta of 0.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews Corporation has a 12-month low of $95.10 and a 12-month high of $121.01.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 EPS for the quarter. The business had revenue of $4.73 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a $0.0625 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio is presently 3.06%.

Insiders Place Their Bets

In related news, Director Dino Robusto acquired 5,000 shares of Loews stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 19.00% of the stock is currently owned by company insiders.

Loews Company Profile

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.