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

Korea Investment CORP raised its stake in shares of Loews Corporation (NYSE:L) by 19.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 210,676 shares of the insurance provider’s stock after purchasing an additional 34,731 shares during the period. Korea Investment CORP’s holdings in Loews were worth $21,150,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in L. SJS Investment Consulting Inc. raised its stake in shares of Loews by 880.8% in the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 229 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Loews during the second quarter valued at approximately $27,000. Westside Investment Management Inc. grew its holdings in Loews by 100.0% during the third quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock worth $37,000 after buying an additional 185 shares in the last quarter. MTM Investment Management LLC bought a new stake in Loews during the second quarter worth $41,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in Loews in the 2nd quarter valued at $44,000. 58.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Loews Trading Up 0.0%

NYSE:L opened at $109.11 on Wednesday. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $114.90. The firm has a 50-day moving average price of $106.95 and a two-hundred day moving average price of $103.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $22.48 billion, a price-to-earnings ratio of 13.67 and a beta of 0.60.

Loews (NYSE:L) last announced its earnings results 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 return on equity of 8.86% and a net margin of 9.03%.

Loews Dividend Announcement

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

Insider Buying and Selling at Loews

In related news, Director Ann E. Berman sold 1,922 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total value of $211,727.52. Following the transaction, the director directly owned 4,998 shares of the company’s stock, valued at approximately $550,579.68. The trade was a 27.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Marc A. Alpert sold 3,495 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total transaction of $383,995.65. Following the completion of the transaction, the vice president directly owned 16,325 shares in the company, valued at $1,793,627.75. This trade represents a 17.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 105,417 shares of company stock worth $11,362,723 in the last quarter. 18.70% of the stock is currently owned by company insiders.

About Loews

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.