Nomura Asset Management Co. Ltd. Buys 556 Shares of Loews Co. (NYSE:L)

Nomura Asset Management Co. Ltd. lifted its stake in shares of Loews Co. (NYSE:L) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 55,785 shares of the insurance provider’s stock after buying an additional 556 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Loews were worth $4,410,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of L. Brooklyn Investment Group purchased a new position in shares of Loews during the 3rd quarter worth approximately $40,000. Kimelman & Baird LLC bought a new stake in shares of Loews during the second quarter valued at approximately $45,000. Family Firm Inc. purchased a new stake in Loews in the second quarter worth $46,000. Eastern Bank bought a new position in Loews in the third quarter worth $47,000. Finally, Innealta Capital LLC purchased a new position in Loews during the second quarter valued at $51,000. 58.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 completion of the sale, the director now owns 19,906 shares of the company’s stock, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew H. Tisch sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the completion of the transaction, the director now owns 12,089,677 shares of the company’s stock, valued at approximately $1,005,377,539.32. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,146 shares of company stock valued at $10,499,507. 18.70% of the stock is currently owned by corporate insiders.

Loews Price Performance

Shares of NYSE L opened at $84.19 on Friday. 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 company has a 50 day simple moving average of $82.50 and a two-hundred day simple moving average of $79.34. Loews Co. has a fifty-two week low of $67.20 and a fifty-two week high of $87.45. The company has a market capitalization of $18.33 billion, a price-to-earnings ratio of 11.18 and a beta of 0.83.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Wednesday, November 27th. Loews’s payout ratio is 3.32%.

Wall Street Analysts Forecast Growth

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 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.