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

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Loews Co. (NYSE:L) by 45.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 12,823 shares of the insurance provider’s stock after buying an additional 4,030 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Loews were worth $1,012,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ballentine Partners LLC lifted its stake in shares of Loews by 5.2% in the 3rd quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock valued at $298,000 after purchasing an additional 187 shares during the period. International Assets Investment Management LLC increased its stake in shares of Loews by 8,975.8% in the 3rd quarter. International Assets Investment Management LLC now owns 69,248 shares of the insurance provider’s stock valued at $5,474,000 after acquiring an additional 68,485 shares in the last quarter. Hartford Investment Management Co. lifted its position in shares of Loews by 5.5% during the 3rd quarter. Hartford Investment Management Co. now owns 12,305 shares of the insurance provider’s stock valued at $973,000 after acquiring an additional 640 shares during the period. Eastern Bank bought a new position in Loews during the third quarter worth $47,000. Finally, Signaturefd LLC grew its holdings in Loews by 6.1% in the third quarter. Signaturefd LLC now owns 3,818 shares of the insurance provider’s stock worth $302,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other news, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at $406,737.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at $406,737.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the sale, the insider now owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,587 shares of company stock worth $7,186,460. Corporate insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on L. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a report on Friday, July 26th. Jefferies Financial Group cut their price target on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st.

Loews Trading Up 0.4 %

L opened at $79.27 on Friday. 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 company’s 50-day moving average is $79.70 and its 200 day moving average is $77.65. The firm has a market capitalization of $17.40 billion, a PE ratio of 11.61 and a beta of 0.81. Loews Co. has a fifty-two week low of $64.48 and a fifty-two week high of $83.54.

Loews Announces Dividend

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

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.