Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Loews Co. (NYSE:L)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Loews Co. (NYSE:L) by 38.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,784 shares of the insurance provider’s stock after buying an additional 4,961 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Loews were worth $1,506,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Loews during the third quarter valued at approximately $40,000. Eastern Bank bought a new position in Loews in the 3rd quarter worth $47,000. Wilmington Savings Fund Society FSB bought a new position in Loews in the 3rd quarter worth $49,000. Quest Partners LLC purchased a new stake in shares of Loews in the 3rd quarter worth about $129,000. Finally, Mather Group LLC. boosted its stake in shares of Loews by 7.7% during the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Loews Price Performance

Shares of L stock opened at $85.89 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock has a market cap of $18.71 billion, a price-to-earnings ratio of 11.41 and a beta of 0.83. The business’s fifty day moving average is $84.68 and its 200 day moving average is $81.84. Loews Co. has a twelve month low of $72.50 and a twelve month high of $88.29.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%.

Insider Buying and Selling at Loews

In related news, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the transaction, the director now directly owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,370 shares of company stock valued at $5,218,627. Corporate insiders own 18.70% of the company’s stock.

Loews Company Profile

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.