Loews Co. (NYSE:L) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its holdings in Loews Co. (NYSE:L) by 10.8% during the 3rd quarter, according to its most recent 13F filing 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 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Loews by 2.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock worth $251,627,000 after purchasing an additional 69,459 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Loews by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock worth $199,858,000 after acquiring an additional 161,810 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Loews by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after acquiring an additional 8,615 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Loews by 5.8% in the second quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock worth $61,347,000 after acquiring an additional 45,237 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Loews by 5.0% in the second quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock worth $51,750,000 after acquiring an additional 33,125 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Performance

L stock opened at $86.61 on Wednesday. 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 $18.86 billion, a P/E ratio of 11.50 and a beta of 0.82. The firm has a 50 day simple moving average of $80.73 and a 200 day simple moving average of $78.52. Loews Co. has a 52 week low of $67.20 and a 52 week high of $86.90.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is presently 3.32%.

Insider Buying and Selling at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the sale, the director now directly owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan M. Tisch sold 62,500 shares of the business’s 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 owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock worth $17,586,460 over the last ninety days. 18.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on L. StockNews.com downgraded shares of Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Jefferies Financial Group dropped their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st.

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.