Sumitomo Mitsui DS Asset Management Company Ltd Acquires 412 Shares of Loews Co. (NYSE:L)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Loews Co. (NYSE:L) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,060 shares of the insurance provider’s stock after buying an additional 412 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Loews were worth $1,744,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in shares of Loews by 244.0% in the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after buying an additional 266 shares during the period. Kimelman & Baird LLC purchased a new position in shares of Loews in the second quarter valued at about $45,000. Family Firm Inc. bought a new position in shares of Loews during the second quarter valued at about $46,000. Innealta Capital LLC bought a new position in shares of Loews during the second quarter valued at about $51,000. Finally, Blue Trust Inc. boosted its holdings in shares of Loews by 80.9% during the second quarter. Blue Trust Inc. now owns 693 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Trading Down 0.9 %

Shares of L opened at $81.06 on Tuesday. Loews Co. has a 1-year low of $62.18 and a 1-year high of $83.54. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $79.46 and its 200-day moving average price is $77.35. The firm has a market capitalization of $17.95 billion, a price-to-earnings ratio of 12.03 and a beta of 0.81.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, July 29th. The insurance provider reported $1.67 EPS for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%. The business had revenue of $4.27 billion during the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 annualized dividend and a yield of 0.31%. Loews’s payout ratio is 3.71%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group decreased their target price on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, July 31st.

Insiders Place Their Bets

In other news, VP Mark S. Schwartz sold 2,628 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total transaction of $212,552.64. Following the sale, the vice president now owns 14,933 shares in the company, valued at approximately $1,207,781.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Mark S. Schwartz sold 2,628 shares of Loews stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total transaction of $212,552.64. Following the completion of the transaction, the vice president now directly owns 14,933 shares in the company, valued at approximately $1,207,781.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,215 shares of company stock worth $7,399,013. 18.70% of the stock is owned by corporate insiders.

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.