Mitsubishi UFJ Trust & Banking Corp Cuts Stake in Loews Co. (NYSE:L)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Loews Co. (NYSE:L) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 181,576 shares of the insurance provider’s stock after selling 3,055 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Loews were worth $15,378,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC bought a new stake in Loews in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new position in shares of Loews in the third quarter worth $40,000. Human Investing LLC bought a new stake in Loews during the 4th quarter valued at $51,000. Wilmington Savings Fund Society FSB purchased a new stake in Loews during the 3rd quarter valued at $49,000. Finally, Intact Investment Management Inc. bought a new stake in Loews in the 4th quarter worth $68,000. 58.33% of the stock is owned by institutional investors.

Loews Price Performance

L opened at $90.66 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market capitalization of $19.30 billion, a PE ratio of 14.17 and a beta of 0.80. The stock’s 50 day moving average price is $85.78 and its 200-day moving average price is $83.37. Loews Co. has a 52-week low of $72.91 and a 52-week 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 (EPS) 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 disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.28%. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Insider Buying and Selling at Loews

In related news, 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 transaction of $320,710.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,860 shares of company stock valued at $13,486,463. 18.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

About Loews

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.