Sumitomo Mitsui Trust Holdings Inc. Buys 33,743 Shares of Loews Co. (NYSE:L)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in Loews Co. (NYSE:L) by 7.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 495,242 shares of the insurance provider’s stock after acquiring an additional 33,743 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Loews were worth $34,464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp increased its stake in shares of Loews by 1.1% in the 2nd quarter. State Street Corp now owns 8,427,667 shares of the insurance provider’s stock valued at $500,435,000 after acquiring an additional 88,821 shares during the last quarter. Norges Bank bought a new stake in shares of Loews in the 4th quarter valued at about $420,569,000. Geode Capital Management LLC increased its stake in shares of Loews by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 4,064,740 shares of the insurance provider’s stock valued at $235,292,000 after acquiring an additional 51,482 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Loews by 0.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,255,282 shares of the insurance provider’s stock valued at $206,092,000 after acquiring an additional 20,277 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Loews by 6.3% in the 3rd quarter. Northern Trust Corp now owns 2,236,376 shares of the insurance provider’s stock valued at $141,585,000 after acquiring an additional 131,736 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Paul J. Fribourg sold 951 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total transaction of $542,929.00. Following the completion of the transaction, the senior vice president now owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul J. Fribourg sold 951 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the transaction, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The disclosure for this sale can be found here. In the last three months, insiders sold 137,563 shares of company stock valued at $10,052,551. 18.70% of the stock is owned by corporate insiders.

Loews Stock Performance

Shares of L stock opened at $75.64 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market cap of $16.81 billion, a PE ratio of 12.01 and a beta of 0.83. The stock has a 50-day moving average of $75.48 and a 200-day moving average of $70.86. Loews Co. has a one year low of $55.31 and a one year high of $78.55.

Loews (NYSE:L) last posted its earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%. The business had revenue of $4.26 billion during the quarter.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.33%. Loews’s payout ratio is 3.97%.

Loews Company 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.