Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in Loews Corporation (NYSE:L)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Loews Corporation by 8.1%, acquiring an additional 24,773 shares, bringing its total to 328,874 shares valued at approximately $30.2 million.
• Loews Corporation reported earnings of $1.87 per share for the most recent quarter, with a revenue of $4.56 billion and a net margin of 7.47%.
• The company announced a quarterly dividend of $0.0625 per share, translating to an annualized dividend yield of 0.3%, payable on September 2nd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Loews Corporation (NYSE:L - Free Report) by 8.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 328,874 shares of the insurance provider's stock after acquiring an additional 24,773 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Loews worth $30,227,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in Loews in the 1st quarter valued at $25,000. Sierra Ocean LLC raised its position in Loews by 805.9% in the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 274 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Loews in the 4th quarter valued at $27,000. Itau Unibanco Holding S.A. increased its stake in Loews by 387.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after buying an additional 345 shares during the period. Finally, NBC Securities Inc. acquired a new position in Loews in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Price Performance

Shares of NYSE:L traded up $0.13 on Friday, reaching $95.71. 155,139 shares of the company were exchanged, compared to its average volume of 774,063. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $96.10. The firm has a market cap of $19.85 billion, a price-to-earnings ratio of 15.22 and a beta of 0.69. The company has a 50-day moving average of $91.08 and a 200-day moving average of $88.11.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The business had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th will be given a $0.0625 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. Loews's payout ratio is currently 3.97%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

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.