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

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Loews Co. (NYSE:L) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,892 shares of the insurance provider’s stock after purchasing 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.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Lindbrook Capital LLC boosted its stake in shares of Loews by 41.4% during the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 179 shares in the last quarter. Optas LLC boosted its stake in shares of Loews by 2.4% during the third quarter. Optas LLC now owns 7,615 shares of the insurance provider’s stock valued at $482,000 after purchasing an additional 181 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Loews by 5.5% in the third quarter. Coldstream Capital Management Inc. now owns 3,856 shares of the insurance provider’s stock valued at $244,000 after acquiring an additional 201 shares in the last quarter. Alaska Permanent Fund Corp boosted its stake in Loews by 1.5% in the third quarter. Alaska Permanent Fund Corp now owns 19,192 shares of the insurance provider’s stock valued at $1,215,000 after acquiring an additional 282 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in Loews by 0.9% in the third quarter. Atria Wealth Solutions Inc. now owns 32,736 shares of the insurance provider’s stock valued at $2,073,000 after acquiring an additional 295 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Loews

In other Loews news, insider Jonathan M. Tisch sold 4,287 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the completion of the sale, the insider now directly owns 106,870 shares in the company, valued at $7,685,021.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the sale, the director now directly owns 945,886 shares in the company, valued at $69,087,513.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan M. Tisch sold 4,287 shares of Loews stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $71.91, for a total transaction of $308,278.17. Following the sale, the insider now owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The disclosure for this sale can be found here. Insiders sold a total of 137,563 shares of company stock worth $10,052,551 over the last three months. Corporate insiders own 18.70% of the company’s stock.

Loews Price Performance

Shares of L opened at $76.41 on Friday. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 12.13 and a beta of 0.83. Loews Co. has a twelve month low of $55.31 and a twelve month high of $78.55. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $75.71 and a two-hundred day moving average of $71.18.

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

Loews Dividend Announcement

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

Loews 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.