422,627 Shares in Loews Corporation $L Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management acquired 422,627 Loews shares worth approximately $47.8 million, representing about 0.21% of the company. Institutional investors and hedge funds collectively own 58.33% of Loews.
• Loews reported quarterly EPS of $2.16 on revenue of $4.73 billion, with a net margin of 9.02% and return on equity of 8.60%.
• The company declared a quarterly dividend of $0.0625, or $0.25 annualized, yielding approximately 0.2%. Weiss Ratings upgraded Loews to “buy (a-)” and MarketBeat lists a consensus “Strong Buy” rating.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Loews Corporation (NYSE:L - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 422,627 shares of the insurance provider's stock, valued at approximately $47,846,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of Loews as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. UBS Group AG increased its stake in Loews by 4.8% during the 4th quarter. UBS Group AG now owns 811,194 shares of the insurance provider's stock valued at $85,427,000 after purchasing an additional 37,327 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Loews by 294.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider's stock worth $15,645,000 after acquiring an additional 110,901 shares in the last quarter. Swedbank AB raised its holdings in shares of Loews by 4.8% in the 4th quarter. Swedbank AB now owns 464,458 shares of the insurance provider's stock worth $48,912,000 after acquiring an additional 21,352 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Loews in the 2nd quarter worth about $1,605,000. Finally, Empowered Funds LLC lifted its position in Loews by 131.7% in the 1st quarter. Empowered Funds LLC now owns 11,626 shares of the insurance provider's stock valued at $1,241,000 after acquiring an additional 6,609 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Stock Performance

NYSE:L opened at $111.29 on Thursday. The business's fifty day moving average is $113.64 and its 200 day moving average is $110.15. The firm has a market cap of $22.75 billion, a price-to-earnings ratio of 13.64 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a 52-week low of $95.10 and a 52-week high of $121.01.

Loews (NYSE:L - Get Free Report) last issued its earnings results 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 return on equity of 8.60% and a net margin of 9.02%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews's dividend payout ratio is currently 3.06%.

Insider Buying and Selling at Loews

In other Loews news, Director Dino Robusto purchased 5,000 shares of the stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $104.74 per share, with a total value of $523,700.00. Following the acquisition, the director directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Strong Buy".

Loews 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.

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