Mirae Asset Global Investments Co. Ltd. Acquires 933 Shares of Loews Co. (NYSE:L)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Loews Co. (NYSE:L) by 3.6% during the 4th quarter, Holdings Channel reports. The firm owned 26,679 shares of the insurance provider’s stock after purchasing an additional 933 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Loews were worth $1,857,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Raymond James & Associates boosted its stake in Loews by 9.5% during the 1st quarter. Raymond James & Associates now owns 59,878 shares of the insurance provider’s stock worth $3,881,000 after acquiring an additional 5,176 shares during the last quarter. American Century Companies Inc. boosted its stake in Loews by 15.6% during the 1st quarter. American Century Companies Inc. now owns 19,679 shares of the insurance provider’s stock worth $1,275,000 after acquiring an additional 2,655 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Loews by 21.1% during the 1st quarter. MetLife Investment Management LLC now owns 53,610 shares of the insurance provider’s stock worth $3,475,000 after acquiring an additional 9,333 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Loews by 4.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,236 shares of the insurance provider’s stock worth $1,701,000 after acquiring an additional 1,081 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in Loews by 6.5% during the 1st quarter. Vontobel Holding Ltd. now owns 4,934 shares of the insurance provider’s stock worth $323,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Loews Stock Up 2.4 %

Loews stock opened at $75.64 on Friday. The company’s 50 day simple moving average is $75.48 and its 200 day simple moving average is $70.86. Loews Co. has a fifty-two week low of $55.31 and a fifty-two week high of $78.55. The firm has a market capitalization of $16.81 billion, a price-to-earnings ratio of 12.01 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32.

Loews (NYSE:L) last announced its earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. The firm had revenue of $4.26 billion for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Wednesday, February 21st were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.25 annualized dividend and a yield of 0.33%. Loews’s dividend payout ratio (DPR) is currently 3.97%.

Insiders Place Their Bets

In other news, insider Jonathan M. Tisch sold 4,287 shares of Loews stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the sale, the insider now directly owns 106,870 shares in the company, valued at $7,685,021.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Loews news, insider Jonathan M. Tisch sold 4,287 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total transaction of $308,278.17. Following the sale, the insider now directly owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 125,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the transaction, the director now owns 945,886 shares in the company, valued at $69,087,513.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,563 shares of company stock worth $10,052,551. Company insiders own 18.70% of the company’s stock.

About Loews

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.