Daiwa Securities Group Inc. Grows Stock Position in Loews Co. (NYSE:L)

Daiwa Securities Group Inc. lifted its stake in Loews Co. (NYSE:L) by 11.3% in the third quarter, HoldingsChannel reports. The firm owned 22,632 shares of the insurance provider’s stock after acquiring an additional 2,304 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Loews were worth $1,789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of L. Public Employees Retirement Association of Colorado acquired a new stake in Loews in the first quarter valued at $462,000. Swedbank AB acquired a new stake in Loews in the first quarter valued at $23,646,000. Cetera Advisors LLC acquired a new stake in Loews in the first quarter valued at $339,000. DekaBank Deutsche Girozentrale raised its stake in Loews by 62.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 46,675 shares of the insurance provider’s stock valued at $3,630,000 after buying an additional 18,001 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Loews by 39.4% in the second quarter. GAMMA Investing LLC now owns 4,596 shares of the insurance provider’s stock valued at $344,000 after buying an additional 1,299 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Stock Up 0.6 %

L opened at $87.05 on Friday. The business’s 50-day simple moving average is $81.04 and its 200-day simple moving average is $78.64. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a one year low of $67.20 and a one year high of $87.45. The stock has a market capitalization of $18.96 billion, a P/E ratio of 11.56 and a beta of 0.82.

Loews Dividend Announcement

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

Insider Transactions at Loews

In related news, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the transaction, the director now directly owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 213,587 shares of company stock worth $17,586,460. Corporate insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

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.