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

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Loews Co. (NYSE:L - Free Report) by 38.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,784 shares of the insurance provider's stock after purchasing an additional 4,961 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Loews were worth $1,506,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CWM LLC raised its position in Loews by 9.9% in the 3rd quarter. CWM LLC now owns 4,022 shares of the insurance provider's stock valued at $318,000 after buying an additional 363 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Loews by 34.6% in the third quarter. Ritholtz Wealth Management now owns 5,317 shares of the insurance provider's stock valued at $420,000 after purchasing an additional 1,368 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Loews by 91.3% during the third quarter. Exchange Traded Concepts LLC now owns 44,089 shares of the insurance provider's stock valued at $3,485,000 after purchasing an additional 21,037 shares in the last quarter. Creative Planning boosted its holdings in Loews by 3.2% during the third quarter. Creative Planning now owns 22,102 shares of the insurance provider's stock worth $1,747,000 after purchasing an additional 677 shares during the last quarter. Finally, Swedbank AB grew its position in Loews by 8.8% in the 3rd quarter. Swedbank AB now owns 379,647 shares of the insurance provider's stock worth $30,011,000 after purchasing an additional 30,600 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jonathan M. Tisch sold 3,691 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the transaction, the director now owns 11,939,677 shares of the company's stock, valued at $994,097,507.02. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,370 shares of company stock valued at $5,218,627 in the last three months. Company insiders own 18.70% of the company's stock.

Loews Stock Performance

NYSE:L traded down $1.06 during trading on Tuesday, reaching $84.88. The company's stock had a trading volume of 654,803 shares, compared to its average volume of 674,133. Loews Co. has a 12 month low of $72.50 and a 12 month high of $88.29. The firm has a market cap of $18.49 billion, a price-to-earnings ratio of 11.27 and a beta of 0.83. The firm has a 50 day moving average of $84.68 and a 200-day moving average of $81.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34.

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

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Loews from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th.

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.