Sumitomo Mitsui Trust Holdings Inc. Buys 2,553 Shares of Loews Co. (NYSE:L)

Sumitomo Mitsui Trust Holdings Inc. increased its stake in Loews Co. (NYSE:LFree Report) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 497,795 shares of the insurance provider’s stock after purchasing an additional 2,553 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.22% of Loews worth $38,972,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in shares of Loews in the fourth quarter worth approximately $26,000. Northwest Financial Advisors bought a new position in shares of Loews in the fourth quarter worth approximately $28,000. Desjardins Global Asset Management Inc. boosted its stake in Loews by 225.2% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after buying an additional 340 shares in the last quarter. Principal Securities Inc. purchased a new stake in Loews in the fourth quarter worth approximately $38,000. Finally, Lindbrook Capital LLC boosted its stake in Loews by 41.4% in the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock worth $43,000 after buying an additional 179 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jonathan M. Tisch sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $77.24, for a total transaction of $3,862,000.00. Following the completion of the sale, the insider now owns 507,799 shares of the company’s stock, valued at $39,222,394.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 150,000 shares of company stock valued at $11,588,500. 18.70% of the stock is currently owned by company insiders.

Loews Stock Down 0.9 %

Shares of L opened at $73.76 on Monday. The firm has a market cap of $16.33 billion, a P/E ratio of 10.94 and a beta of 0.83. The stock has a 50 day simple moving average of $75.74 and a two-hundred day simple moving average of $74.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 1 year low of $59.18 and a 1 year high of $78.55.

Loews (NYSE:LGet Free Report) last issued its earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. The business had revenue of $4.23 billion during the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Wednesday, May 29th. Loews’s dividend payout ratio (DPR) is presently 3.71%.

About Loews

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Loews (NYSE:L)

Receive News & Ratings for Loews Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loews and related companies with MarketBeat.com's FREE daily email newsletter.