Korea Investment CORP Invests $9.32 Million in Loews Corporation $L

Korea Investment CORP purchased a new position in Loews Corporation (NYSE:L) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 82,287 shares of the insurance provider’s stock, valued at approximately $9,316,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Paladin Partners LLC acquired a new stake in Loews during the second quarter valued at approximately $30,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Loews in the 2nd quarter worth approximately $26,000. DV Equities LLC acquired a new position in shares of Loews in the 4th quarter worth approximately $25,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Loews in the 2nd quarter valued at approximately $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Loews in the 3rd quarter valued at approximately $30,000. 58.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings raised Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company has a consensus rating of “Strong Buy”.

Insider Transactions at Loews

In other news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares in the company, valued at $1,072,013.90. The trade was a 95.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 19.00% of the company’s stock.

Loews Stock Up 1.5%

Shares of Loews stock opened at $111.44 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The business’s 50 day simple moving average is $113.80 and its 200-day simple moving average is $110.24. The stock has a market capitalization of $22.78 billion, a price-to-earnings ratio of 13.66 and a beta of 0.52. Loews Corporation has a twelve month low of $95.10 and a twelve month high of $121.01.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.The business had revenue of $4.73 billion for the quarter.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews’s dividend payout ratio (DPR) is presently 3.06%.

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.