Korea Investment CORP Acquires 15,879 Shares of Loews Co. (NYSE:L)

Korea Investment CORP grew its stake in shares of Loews Co. (NYSE:L - Free Report) by 11.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,018 shares of the insurance provider's stock after acquiring an additional 15,879 shares during the quarter. Korea Investment CORP owned about 0.07% of Loews worth $13,044,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC bought a new position in Loews in the 4th quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Loews during the third quarter valued at $49,000. Human Investing LLC bought a new stake in Loews in the 4th quarter worth about $51,000. Graney & King LLC bought a new stake in Loews in the 4th quarter worth about $56,000. Finally, Intact Investment Management Inc. bought a new position in Loews during the 4th quarter valued at about $68,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Performance

Shares of NYSE L traded down $7.95 during midday trading on Friday, hitting $83.16. 1,259,253 shares of the stock traded hands, compared to its average volume of 722,268. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a one year low of $72.91 and a one year high of $92.42. The firm has a market capitalization of $17.70 billion, a P/E ratio of 12.99 and a beta of 0.80. The firm has a 50-day moving average of $86.27 and a two-hundred day moving average of $83.77.

Loews (NYSE:L - Get Free Report) last announced its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.30%. Loews's dividend payout ratio (DPR) is 3.91%.

Insider Buying and Selling at Loews

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the sale, the director now owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,327 shares of company stock valued at $12,851,055. Insiders own 18.70% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Loews from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.

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.