Korea Investment CORP Has $13.04 Million Stock Position in Loews Co. (NYSE:L)

Korea Investment CORP lifted its stake in shares of Loews Co. (NYSE:L) by 11.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 154,018 shares of the insurance provider’s stock after purchasing an additional 15,879 shares during the quarter. Korea Investment CORP’s holdings in Loews were worth $13,044,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of L. Miracle Mile Advisors LLC acquired a new position in shares of Loews during the fourth quarter worth $315,000. Nordea Investment Management AB raised its position in Loews by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider’s stock worth $1,323,000 after purchasing an additional 1,085 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Loews by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock worth $109,067,000 after buying an additional 77,386 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Loews in the 4th quarter valued at about $425,000. Finally, Principal Financial Group Inc. increased its stake in shares of Loews by 3.0% in the third quarter. Principal Financial Group Inc. now owns 248,665 shares of the insurance provider’s stock valued at $19,657,000 after buying an additional 7,149 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Loews Trading Down 0.8 %

L opened at $90.66 on Monday. Loews Co. has a twelve month low of $72.91 and a twelve month high of $92.13. The company has a fifty day moving average of $85.78 and a 200-day moving average of $83.44. The stock has a market cap of $19.30 billion, a PE ratio of 14.17 and a beta of 0.80. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Insiders Place Their Bets

In other news, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jonathan M. Tisch sold 47,636 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the completion of the sale, the director now owns 6,705,529 shares of the company’s stock, valued at approximately $569,165,301.52. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,860 shares of company stock worth $13,486,463. Corporate insiders own 18.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

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.