Mitsubishi UFJ Trust & Banking Corp Sells 41,213 Shares of Loews Corporation $L

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Loews Corporation (NYSE:L) by 23.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,579 shares of the insurance provider’s stock after selling 41,213 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Loews were worth $13,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Versant Capital Management Inc lifted its position in Loews by 6.9% during the third quarter. Versant Capital Management Inc now owns 1,606 shares of the insurance provider’s stock valued at $161,000 after purchasing an additional 104 shares in the last quarter. Moody Lynn & Lieberson LLC lifted its position in shares of Loews by 2.9% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 3,678 shares of the insurance provider’s stock valued at $369,000 after buying an additional 105 shares in the last quarter. Trustmark Bank Trust Department lifted its position in shares of Loews by 0.7% during the 2nd quarter. Trustmark Bank Trust Department now owns 16,263 shares of the insurance provider’s stock valued at $1,491,000 after buying an additional 115 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Loews by 3.8% during the 3rd quarter. Wedmont Private Capital now owns 3,291 shares of the insurance provider’s stock valued at $339,000 after acquiring an additional 120 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in Loews by 0.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 25,996 shares of the insurance provider’s stock worth $2,610,000 after acquiring an additional 120 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Loews

In other news, Director Charles M. Diker sold 1,442 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $107.93, for a total transaction of $155,635.06. Following the sale, the director directly owned 21,594 shares of the company’s stock, valued at $2,330,640.42. This represents a 6.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul J. Fribourg sold 1,442 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $108.13, for a total value of $155,923.46. Following the transaction, the director owned 400 shares of the company’s stock, valued at $43,252. This represents a 78.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 125,770 shares of company stock worth $13,325,818 over the last three months. 18.70% of the stock is owned by company insiders.

Loews Trading Down 0.4%

Loews stock opened at $102.24 on Wednesday. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $109.06. The firm’s 50 day moving average price is $104.96 and its 200-day moving average price is $100.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $21.13 billion, a P/E ratio of 14.82 and a beta of 0.61.

Loews (NYSE:L) last issued its earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. The firm had revenue of $4.67 billion during the quarter. Loews had a net margin of 7.95% and a return on equity of 7.89%.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio is presently 3.62%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has an average 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.