Dai ichi Life Insurance Company Ltd Has $6.05 Million Stock Holdings in Loews Co. (NYSE:L)

Dai ichi Life Insurance Company Ltd lessened its stake in Loews Co. (NYSE:L - Free Report) by 10.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,546 shares of the insurance provider's stock after selling 9,309 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in Loews were worth $6,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in L. Optas LLC boosted its holdings in Loews by 1.9% in the second quarter. Optas LLC now owns 8,086 shares of the insurance provider's stock worth $604,000 after acquiring an additional 151 shares in the last quarter. Summit Trail Advisors LLC grew its stake in shares of Loews by 2.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider's stock worth $477,000 after purchasing an additional 153 shares during the period. Atomi Financial Group Inc. raised its position in shares of Loews by 4.3% in the third quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider's stock worth $325,000 after acquiring an additional 169 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Loews by 6.2% in the second quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider's stock valued at $239,000 after purchasing an additional 186 shares during the period. Finally, Ballentine Partners LLC grew its stake in Loews by 5.2% in the 3rd quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider's stock valued at $298,000 after acquiring an additional 187 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. StockNews.com downgraded Loews from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 20th. Jefferies Financial Group reduced 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.

Loews Stock Performance

NYSE L traded up $0.50 on Wednesday, reaching $87.05. The stock had a trading volume of 452,256 shares, compared to its average volume of 715,133. Loews Co. has a 12-month low of $67.20 and a 12-month high of $87.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market cap of $18.96 billion, a P/E ratio of 11.56 and a beta of 0.82. The business's 50-day moving average price is $80.88 and its 200 day moving average price is $78.58.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews's payout ratio is 3.32%.

Insider Activity at Loews

In related news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the completion of the sale, the insider now directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the sale, the director now directly owns 11,939,677 shares of the company's stock, valued at $994,097,507.02. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,587 shares of company stock worth $17,586,460. Company insiders own 18.70% of the company's stock.

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.