Meiji Yasuda Asset Management Co Ltd. Grows Stake in Loews Co. (NYSE:L)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Loews Co. (NYSE:L) by 12.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,670 shares of the insurance provider’s stock after purchasing an additional 400 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Loews were worth $274,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in Loews by 244.0% in the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after buying an additional 266 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Loews in the 4th quarter valued at approximately $38,000. Family Firm Inc. acquired a new stake in Loews in the 2nd quarter worth approximately $46,000. Able Wealth Management LLC purchased a new stake in Loews during the 4th quarter worth approximately $48,000. Finally, Innealta Capital LLC acquired a new position in Loews during the 2nd quarter valued at approximately $51,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other Loews news, VP Mark S. Schwartz sold 2,628 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $80.88, for a total transaction of $212,552.64. Following the transaction, the vice president now owns 14,933 shares in the company, valued at $1,207,781.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jonathan M. Tisch sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the transaction, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mark S. Schwartz sold 2,628 shares of the firm’s stock in a transaction dated 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 $1,207,781.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,215 shares of company stock valued at $7,399,013. Corporate insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada raised Loews to a “moderate buy” rating in a report on Friday, July 26th.

Loews Stock Down 0.9 %

NYSE:L opened at $78.54 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The company’s fifty day moving average price is $79.09 and its 200-day moving average price is $77.00. Loews Co. has a 1-year low of $61.43 and a 1-year high of $83.54. The firm has a market capitalization of $17.39 billion, a P/E ratio of 11.65 and a beta of 0.82.

Loews (NYSE:L) last posted its earnings results on Monday, July 29th. The insurance provider reported $1.67 EPS for the quarter. Loews had a return on equity of 9.26% and a net margin of 9.14%. The firm had revenue of $4.27 billion for 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 given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 annualized dividend and a yield of 0.32%. Loews’s dividend payout ratio is presently 3.71%.

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.