Loews Co. (L) Shares Sold by Tokio Marine Asset Management Co. Ltd.
Tokio Marine Asset Management Co. Ltd. lowered its position in shares of Loews Co. (NYSE:L) by 18.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,642 shares of the insurance provider’s stock after selling 1,266 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Loews were worth $264,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Loews by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 19,615,252 shares of the insurance provider’s stock worth $807,168,000 after buying an additional 234,784 shares in the last quarter. Probity Advisors Inc. purchased a new position in Loews during the third quarter worth $245,000. Mraz Amerine & Associates Inc. increased its position in Loews by 1.3% in the third quarter. Mraz Amerine & Associates Inc. now owns 304,024 shares of the insurance provider’s stock worth $12,511,000 after buying an additional 3,903 shares in the last quarter. America First Investment Advisors LLC increased its position in Loews by 3.4% in the third quarter. America First Investment Advisors LLC now owns 238,739 shares of the insurance provider’s stock worth $9,824,000 after buying an additional 7,899 shares in the last quarter. Finally, Morgan Stanley increased its position in Loews by 3.0% in the third quarter. Morgan Stanley now owns 576,972 shares of the insurance provider’s stock worth $23,742,000 after buying an additional 16,637 shares in the last quarter. 58.05% of the stock is currently owned by hedge funds and other institutional investors.
Loews Co. (NYSE:L) traded up 0.41% on Monday, reaching $46.88. The company’s stock had a trading volume of 614,408 shares. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 18.75 and a beta of 0.73. The firm’s 50 day moving average price is $46.60 and its 200-day moving average price is $46.42. Loews Co. has a 1-year low of $38.17 and a 1-year high of $48.05.
Loews (NYSE:L) last posted its quarterly earnings results on Monday, May 1st. The insurance provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.21. The business had revenue of $3.30 billion for the quarter. Loews had a return on equity of 3.88% and a net margin of 4.82%. During the same quarter in the previous year, the firm posted $0.30 EPS. Equities analysts forecast that Loews Co. will post $3.10 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Wednesday, May 31st will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.25 annualized dividend and a yield of 0.53%. Loews’s payout ratio is presently 13.37%.
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Separately, Zacks Investment Research downgraded Loews from a “buy” rating to a “hold” rating in a report on Monday, February 13th.
Loews Company Profile
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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