Sumitomo Mitsui DS Asset Management Company Ltd Acquires 439 Shares of Loews Co. (NYSE:L)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Loews Co. (NYSE:L) by 2.0% during the 4th quarter, HoldingsChannel reports. The fund owned 22,499 shares of the insurance provider’s stock after purchasing an additional 439 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Loews were worth $1,905,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wedmont Private Capital lifted its holdings in shares of Loews by 5.2% during the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 151 shares in the last quarter. Summit Trail Advisors LLC raised its position in Loews by 2.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock worth $477,000 after buying an additional 153 shares during the last quarter. Mather Group LLC. lifted its stake in Loews by 7.7% during the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after acquiring an additional 161 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of Loews by 5.9% during the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after acquiring an additional 183 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Loews by 5.2% in the third quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock worth $298,000 after acquiring an additional 187 shares during the period. Institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

Loews Stock Performance

Shares of L opened at $85.89 on Tuesday. The firm has a market capitalization of $18.71 billion, a P/E ratio of 11.41 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a one year low of $72.50 and a one year high of $88.29. The business has a fifty day moving average of $84.68 and a 200 day moving average of $81.84.

Loews (NYSE:L) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%.

Insider Activity at Loews

In other Loews news, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the sale, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their position. The transaction 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 transaction of $4,163,000.00. Following the completion of the transaction, the director now owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,370 shares of company stock worth $5,218,627. 18.70% of the stock is owned by company insiders.

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.