Loews Corporation $L Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Loews Corporation (NYSE:L) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 336,704 shares of the insurance provider’s stock after purchasing an additional 7,830 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Loews worth $30,862,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Elequin Capital LP acquired a new stake in shares of Loews during the first quarter worth approximately $30,000. Zions Bancorporation National Association UT acquired a new position in Loews in the first quarter worth $33,000. NewSquare Capital LLC increased its stake in Loews by 404.1% during the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 295 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Loews by 14,900.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock valued at $41,000 after buying an additional 447 shares during the period. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of Loews during the 2nd quarter valued at about $60,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company has a consensus rating of “Strong Buy”.

Loews Price Performance

NYSE L opened at $103.77 on Wednesday. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $103.96. The stock has a market cap of $21.45 billion, a price-to-earnings ratio of 16.50 and a beta of 0.73. The company has a 50-day moving average price of $99.49 and a two-hundred day moving average price of $93.89. 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 (NYSE:L) last announced its earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The firm had revenue of $3.94 billion for the quarter.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Loews’s dividend payout ratio is currently 3.62%.

Loews Profile

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.