Nomura Holdings Inc. Makes New Investment in Loews Co. (NYSE:L)

Nomura Holdings Inc. acquired a new position in shares of Loews Co. (NYSE:L) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,959 shares of the insurance provider’s stock, valued at approximately $505,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Loews in the 4th quarter worth approximately $26,000. Minot DeBlois Advisors LLC purchased a new position in shares of Loews in the 4th quarter worth approximately $27,000. Itau Unibanco Holding S.A. boosted its stake in shares of Loews by 387.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider’s stock worth $37,000 after buying an additional 345 shares during the last quarter. Human Investing LLC purchased a new position in shares of Loews in the 4th quarter worth approximately $51,000. Finally, Graney & King LLC purchased a new position in shares of Loews in the 4th quarter worth approximately $56,000. 58.33% of the stock is owned by institutional investors.

Loews Price Performance

Loews stock opened at $87.67 on Thursday. Loews Co. has a 12 month low of $73.15 and a 12 month high of $92.42. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The business’s 50 day simple moving average is $87.17 and its 200 day simple moving average is $85.40. The company has a market cap of $18.38 billion, a price-to-earnings ratio of 13.70 and a beta of 0.70.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%. The business had revenue of $4.49 billion for the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s payout ratio is 4.11%.

Insider Activity at Loews

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following the sale, the senior vice president now owns 33,901 shares of the company’s stock, valued at $2,980,575.92. The trade was a 21.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the sale, the director now directly owns 6,755,529 shares in the company, valued at $571,923,085.14. The trade was a 0.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,655 shares of company stock worth $13,323,294. Insiders own 18.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Loews from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th.

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.