Resona Asset Management Co. Ltd. Makes New Investment in Loews Co. (NYSE:L)

Resona Asset Management Co. Ltd. purchased a new stake in Loews Co. (NYSE:L - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 87,129 shares of the insurance provider's stock, valued at approximately $7,379,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of L. Janus Henderson Group PLC grew its stake in Loews by 33.2% during the 3rd quarter. Janus Henderson Group PLC now owns 25,249 shares of the insurance provider's stock worth $1,996,000 after buying an additional 6,300 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Loews by 15.2% in the third quarter. Integrated Wealth Concepts LLC now owns 3,114 shares of the insurance provider's stock worth $246,000 after acquiring an additional 411 shares in the last quarter. State Street Corp grew its stake in shares of Loews by 1.0% during the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider's stock worth $638,506,000 after acquiring an additional 82,581 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Loews by 56.4% during the third quarter. Kovitz Investment Group Partners LLC now owns 60,041 shares of the insurance provider's stock valued at $4,505,000 after acquiring an additional 21,654 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Loews by 71.9% during the third quarter. National Bank of Canada FI now owns 104,949 shares of the insurance provider's stock valued at $8,296,000 after acquiring an additional 43,906 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Insider Transactions at Loews

In other news, Director Jonathan M. Tisch sold 3,691 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan M. Tisch sold 47,636 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the transaction, the director now directly owns 6,705,529 shares in the company, valued at $569,165,301.52. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 151,327 shares of company stock valued at $12,851,055 in the last 90 days. 18.70% of the stock is currently owned by company insiders.

Loews Stock Performance

L stock traded up $0.24 during midday trading on Friday, reaching $84.61. The stock had a trading volume of 1,386,381 shares, compared to its average volume of 736,786. The firm has a fifty day simple moving average of $85.95 and a two-hundred day simple moving average of $84.04. Loews Co. has a 52-week low of $72.91 and a 52-week high of $92.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market cap of $17.80 billion, a PE ratio of 13.22 and a beta of 0.60.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.30%. Loews's dividend payout ratio is presently 3.91%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Loews from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th.

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.