Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in Loews Corporation $L

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Loews by 12.1% in the fourth quarter, ending with 369,994 shares worth about $38.7 million.
• Other large institutions also boosted holdings, and institutional investors now own 58.33% of Loews’ stock, showing continued broad support from funds.
• Loews’ insider activity has leaned toward selling, with directors Ann E. Berman and Andrew H. Tisch making notable sales; meanwhile, analysts still see the stock favorably with a consensus rating of Strong Buy.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Loews Corporation (NYSE:L - Free Report) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 369,994 shares of the insurance provider's stock after purchasing an additional 39,968 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Loews worth $38,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Loews by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider's stock valued at $2,045,759,000 after buying an additional 108,882 shares during the last quarter. Invesco Ltd. raised its position in shares of Loews by 0.4% during the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider's stock valued at $337,698,000 after buying an additional 12,311 shares during the last quarter. Legal & General Group Plc raised its position in shares of Loews by 0.4% during the third quarter. Legal & General Group Plc now owns 1,340,867 shares of the insurance provider's stock valued at $134,610,000 after buying an additional 4,792 shares during the last quarter. UBS Group AG raised its position in shares of Loews by 4.8% during the fourth quarter. UBS Group AG now owns 811,194 shares of the insurance provider's stock valued at $85,427,000 after buying an additional 37,327 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Loews by 12.1% during the third quarter. California State Teachers Retirement System now owns 777,030 shares of the insurance provider's stock valued at $78,006,000 after buying an additional 83,669 shares during the last quarter. Institutional investors own 58.33% of the company's stock.

Insider Buying and Selling

In related news, Director Ann E. Berman sold 1,922 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total value of $211,727.52. Following the sale, the director owned 4,998 shares in the company, valued at approximately $550,579.68. The trade was a 27.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the business's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the sale, the director owned 12,480,400 shares in the company, valued at $1,357,992,324. This represents a 0.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 105,417 shares of company stock worth $11,549,723. Insiders own 19.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "buy (a-)" rating on shares of Loews in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Strong Buy".

Loews Trading Up 0.0%

Shares of L opened at $104.44 on Friday. The company's fifty day moving average is $108.88 and its 200 day moving average is $106.28. Loews Corporation has a fifty-two week low of $86.77 and a fifty-two week high of $114.90. The stock has a market capitalization of $21.49 billion, a PE ratio of 13.27 and a beta of 0.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The company had revenue of $4.56 billion for the quarter.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, February 25th. Loews's payout ratio is currently 3.18%.

About Loews

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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