41,667 Shares in Loews Corporation $L Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Loews Corporation (NYSE:L) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 41,667 shares of the insurance provider’s stock, valued at approximately $4,351,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. NewEdge Advisors LLC grew its stake in Loews by 2.3% in the first quarter. NewEdge Advisors LLC now owns 4,168 shares of the insurance provider’s stock valued at $445,000 after purchasing an additional 95 shares in the last quarter. Lido Advisors LLC increased its position in Loews by 3.9% in the 1st quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider’s stock worth $277,000 after purchasing an additional 97 shares during the last quarter. CX Institutional raised its stake in shares of Loews by 5.3% during the 2nd quarter. CX Institutional now owns 2,128 shares of the insurance provider’s stock worth $241,000 after purchasing an additional 107 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Loews by 10.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,306 shares of the insurance provider’s stock worth $148,000 after purchasing an additional 119 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Loews by 1.2% during the 2nd quarter. GAMMA Investing LLC now owns 11,578 shares of the insurance provider’s stock valued at $1,311,000 after buying an additional 135 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating. According to MarketBeat.com, Loews currently has a consensus rating of “Buy”.

Loews Stock Down 1.2%

Shares of NYSE:L traded down $1.30 on Friday, reaching $109.83. The company had a trading volume of 757,846 shares, compared to its average volume of 646,542. Loews Corporation has a twelve month low of $101.08 and a twelve month high of $121.01. The stock has a 50-day moving average price of $108.63 and a 200 day moving average price of $109.53. The stock has a market capitalization of $22.45 billion, a P/E ratio of 15.19 and a beta of 0.49. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, November 2nd. The insurance provider reported $1.50 earnings per share (EPS) for the quarter. The company had revenue of $4.76 billion for the quarter. Loews had a return on equity of 7.54% and a net margin of 7.93%.

Loews Profile

Loews Corporation (NYSE:L) is a diversified holding company with operating businesses in insurance, energy infrastructure, hospitality and packaging. The company manages its portfolio through a combination of wholly owned subsidiaries and a significant ownership interest in CNA Financial Corporation, a commercial property and casualty insurance provider.

Loews’ wholly owned businesses include Boardwalk Pipelines, which owns and operates natural gas and natural gas liquids pipeline and storage assets; Loews Hotels & Co, which operates upscale hotels and resorts under brands including Loews Hotels and Universal’s hotels; and Altium Packaging, a manufacturer of rigid plastic containers and packaging products.