Korea Investment CORP Sells 4,293 Shares of Loews Corporation $L

Key Points

• Korea Investment CORP reduced its holdings in Loews Corporation by 2.8%, now owning 149,725 shares valued at $13.76 million, following the sale of 4,293 shares in the first quarter.
• Other investors have also adjusted their positions, with GAMMA Investing LLC escalating its stake by 10,114.9% during the same quarter, now controlling 672,138 shares worth $61.78 million.
• Loews Corporation recently upgraded from a "hold" to a "buy" rating by analysts from Wall Street Zen on May 6th, indicating potential optimism for the company's stock performance.

Korea Investment CORP lowered its position in Loews Corporation (NYSE:L - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,725 shares of the insurance provider's stock after selling 4,293 shares during the quarter. Korea Investment CORP owned about 0.07% of Loews worth $13,761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp raised its stake in shares of Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider's stock valued at $206,709,000 after acquiring an additional 151,428 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Loews by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider's stock worth $120,549,000 after buying an additional 207,568 shares during the period. California State Teachers Retirement System increased its stake in Loews by 7.2% in the 4th quarter. California State Teachers Retirement System now owns 758,592 shares of the insurance provider's stock worth $64,245,000 after buying an additional 51,028 shares during the period. Hsbc Holdings PLC increased its stake in Loews by 2.3% in the 4th quarter. Hsbc Holdings PLC now owns 714,833 shares of the insurance provider's stock worth $60,535,000 after buying an additional 15,888 shares during the period. Finally, GAMMA Investing LLC increased its stake in Loews by 10,114.9% in the 1st quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock worth $61,776,000 after buying an additional 665,558 shares during the period. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Up 0.6%

Loews stock traded up $0.60 during midday trading on Wednesday, hitting $96.50. 617,196 shares of the company's stock were exchanged, compared to its average volume of 798,959. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. Loews Corporation has a 12 month low of $75.16 and a 12 month high of $97.41. The firm has a 50-day moving average of $92.40 and a two-hundred day moving average of $88.72. The company has a market cap of $20.02 billion, a PE ratio of 15.34 and a beta of 0.69.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The company had revenue of $4.56 billion for the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.3%. The ex-dividend date is Wednesday, August 20th. Loews's dividend payout ratio is presently 3.97%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

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.