Mirae Asset Global Investments Co. Ltd. Has $1.01 Million Stock Holdings in Loews Co. (NYSE:L)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Loews Co. (NYSE:L) by 45.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,823 shares of the insurance provider’s stock after acquiring an additional 4,030 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Loews were worth $1,012,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in shares of Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after buying an additional 266 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Loews in the 2nd quarter valued at approximately $45,000. Family Firm Inc. acquired a new stake in shares of Loews in the 2nd quarter valued at approximately $46,000. Eastern Bank acquired a new stake in shares of Loews in the 3rd quarter valued at approximately $47,000. Finally, Innealta Capital LLC acquired a new stake in shares of Loews in the 2nd quarter valued at approximately $51,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other Loews news, insider Jonathan M. Tisch sold 62,500 shares of Loews stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the transaction, the insider now directly owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Loews news, insider Jonathan M. Tisch sold 62,500 shares of Loews stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the transaction, the insider now directly owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total value of $2,045,500.00. Following the transaction, the insider now directly owns 461,395 shares of the company’s stock, valued at $37,751,338.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,587 shares of company stock valued at $7,186,460 in the last quarter. Company insiders own 18.70% of the company’s stock.

Loews Stock Performance

Shares of NYSE L opened at $79.27 on Friday. Loews Co. has a one year low of $64.48 and a one year high of $83.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $17.40 billion, a price-to-earnings ratio of 11.61 and a beta of 0.81. The stock’s fifty day moving average price is $79.70 and its two-hundred day moving average price is $77.65.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.32%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is 3.66%.

Analysts Set New Price Targets

A number of research firms recently weighed in on L. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research note on Friday, July 26th. Jefferies Financial Group dropped their price target on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st.

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.