Nomura Asset Management Co. Ltd. Grows Position in Loews Corporation (L)

Nomura Asset Management Co. Ltd. boosted its holdings in Loews Corporation (NYSE:L) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,877 shares of the insurance provider’s stock after purchasing an additional 3,554 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Loews were worth $2,148,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in L. Aviva PLC raised its position in Loews by 2.9% during the 2nd quarter. Aviva PLC now owns 170,632 shares of the insurance provider’s stock worth $7,989,000 after buying an additional 4,860 shares during the last quarter. Commonwealth Bank of Australia raised its position in Loews by 38.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 654,351 shares of the insurance provider’s stock worth $30,627,000 after buying an additional 181,616 shares during the last quarter. Swiss National Bank raised its position in Loews by 3.0% during the 2nd quarter. Swiss National Bank now owns 1,045,419 shares of the insurance provider’s stock worth $48,936,000 after buying an additional 30,600 shares during the last quarter. Hosking Partners LLP raised its position in Loews by 1.7% during the 2nd quarter. Hosking Partners LLP now owns 165,663 shares of the insurance provider’s stock worth $7,755,000 after buying an additional 2,731 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in Loews during the 2nd quarter worth $1,686,000. Hedge funds and other institutional investors own 59.39% of the company’s stock.

A number of equities analysts have commented on L shares. Zacks Investment Research upgraded shares of Loews from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine downgraded shares of Loews from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, BidaskClub downgraded shares of Loews from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th.

In other news, SVP Richard Waldo Scott sold 6,471 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $49.80, for a total value of $322,255.80. Following the completion of the transaction, the senior vice president now owns 11,250 shares in the company, valued at approximately $560,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the completion of the transaction, the insider now owns 2,169,075 shares of the company’s stock, valued at approximately $104,983,230. The disclosure for this sale can be found here. Insiders sold a total of 1,420,223 shares of company stock valued at $68,779,839 in the last quarter. Insiders own 11.80% of the company’s stock.

Shares of Loews Corporation (NYSE:L) traded up $0.27 during trading on Wednesday, reaching $50.32. 1,077,900 shares of the company’s stock were exchanged, compared to its average volume of 860,968. The stock has a market cap of $16,848.39, a P/E ratio of 17.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.35 and a current ratio of 0.35. Loews Corporation has a 52 week low of $45.01 and a 52 week high of $51.02.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.44. The business had revenue of $3.52 billion during the quarter. Loews had a net margin of 7.04% and a return on equity of 4.08%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 EPS. equities analysts anticipate that Loews Corporation will post 2.75 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.50%. Loews’s dividend payout ratio is presently 8.90%.

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Loews 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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Institutional Ownership by Quarter for Loews (NYSE:L)

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