Korea Investment CORP Purchases 34,731 Shares of Loews Corporation $L

Korea Investment CORP boosted its position in Loews Corporation (NYSE:L) by 19.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,676 shares of the insurance provider’s stock after buying an additional 34,731 shares during the period. Korea Investment CORP owned approximately 0.10% of Loews worth $21,150,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Loews in the 2nd quarter worth about $665,658,000. Geode Capital Management LLC boosted its position in shares of Loews by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,609,107 shares of the insurance provider’s stock valued at $420,722,000 after purchasing an additional 28,552 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Loews by 0.7% during the 2nd quarter. Hsbc Holdings PLC now owns 728,940 shares of the insurance provider’s stock valued at $66,761,000 after purchasing an additional 4,750 shares in the last quarter. AQR Capital Management LLC grew its stake in Loews by 27.5% during the second quarter. AQR Capital Management LLC now owns 592,923 shares of the insurance provider’s stock worth $53,920,000 after purchasing an additional 127,782 shares during the period. Finally, Swiss National Bank increased its holdings in Loews by 3.7% in the second quarter. Swiss National Bank now owns 541,161 shares of the insurance provider’s stock worth $49,603,000 after purchasing an additional 19,100 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Loews currently has an average rating of “Strong Buy”.

Insiders Place Their Bets

In other Loews news, Director Ann E. Berman sold 1,922 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total value of $211,727.52. Following the completion of the sale, the director owned 4,998 shares of the company’s stock, valued at approximately $550,579.68. This trade represents a 27.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Marc A. Alpert sold 3,495 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total value of $383,995.65. Following the sale, the vice president owned 16,325 shares of the company’s stock, valued at approximately $1,793,627.75. This represents a 17.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 105,417 shares of company stock worth $11,362,723. Corporate insiders own 18.70% of the company’s stock.

Loews Trading Up 0.0%

L opened at $109.11 on Wednesday. Loews Corporation has a 1-year low of $78.98 and a 1-year high of $114.90. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The company has a market cap of $22.48 billion, a P/E ratio of 13.67 and a beta of 0.60. The company has a fifty day moving average price of $106.95 and a two-hundred day moving average price of $103.47.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, February 9th. The insurance provider reported $1.94 earnings per share for the quarter. The firm had revenue of $4.73 billion for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio is presently 3.13%.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.