Sumitomo Mitsui Trust Group Inc. Sells 27,780 Shares of Loews Corporation $L

Key Points

• Sumitomo Mitsui Trust Group sold 27,780 shares of Loews, cutting its position by 5.7% to 463,432 shares worth about $48.8 million, representing a 0.22% stake.
• Significant insider selling occurred recently: Director Andrew H. Tisch sold 50,000 shares (~$5.44M) and insiders have sold 105,417 shares (~$11.55M) over the last 90 days, though insiders still own about 19% of the company.
• Loews fundamentals and outlook: market cap $22.68B, P/E 13.81, Q4 EPS $1.94, 52-week range $82.49–$114.90, annualized dividend $0.25 (yield 0.2%), and a consensus analyst rating of “Strong Buy” (Weiss reiterated a buy).

Sumitomo Mitsui Trust Group Inc. lowered its position in Loews Corporation (NYSE:L - Free Report) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 463,432 shares of the insurance provider's stock after selling 27,780 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Loews worth $48,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in L. CPC Advisors LLC acquired a new stake in Loews during the 3rd quarter worth approximately $6,568,000. Swedbank AB boosted its position in Loews by 9.7% during the 3rd quarter. Swedbank AB now owns 443,106 shares of the insurance provider's stock worth $44,483,000 after buying an additional 39,313 shares during the period. Cibc World Market Inc. boosted its position in Loews by 448.6% during the 3rd quarter. Cibc World Market Inc. now owns 24,540 shares of the insurance provider's stock worth $2,464,000 after buying an additional 20,067 shares during the period. Caprock Group LLC acquired a new stake in Loews during the 3rd quarter worth approximately $2,748,000. Finally, Truist Financial Corp boosted its position in Loews by 388.3% during the 3rd quarter. Truist Financial Corp now owns 14,331 shares of the insurance provider's stock worth $1,439,000 after buying an additional 11,396 shares during the period. Institutional investors own 58.33% of the company's stock.

Loews Price Performance

Loews stock opened at $110.22 on Thursday. The stock has a market capitalization of $22.68 billion, a price-to-earnings ratio of 13.81 and a beta of 0.59. Loews Corporation has a 52-week low of $82.49 and a 52-week high of $114.90. The stock's 50 day moving average price is $108.77 and its two-hundred day moving average price is $105.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.The company had revenue of $4.73 billion for the quarter.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, February 25th. Loews's dividend payout ratio is presently 3.13%.

Insider Transactions at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 12,480,400 shares of the company's stock, valued at $1,357,992,324. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Marc A. Alpert sold 3,495 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total value of $383,995.65. Following the transaction, the vice president directly owned 16,325 shares in the company, valued at $1,793,627.75. The trade was a 17.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 105,417 shares of company stock valued at $11,549,723 over the last ninety days. 19.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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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