Korea Investment CORP Makes New Investment in Loews Corporation $L

Key Points

• Korea Investment Corp. acquired 82,287 Loews shares in the second quarter, valued at approximately $9.3 million. Other institutional investors also initiated positions, and institutions collectively own 58.33% of Loews stock.
• Loews reported quarterly earnings of $2.16 per share on $4.73 billion in revenue. Director Dino Robusto also bought 5,000 shares, while insiders own 19% of the company.
• Loews declared a quarterly dividend of $0.0625 per share, equivalent to a 0.2% annual yield, and Weiss Ratings upgraded the stock to “buy (a-),” contributing to a consensus “Strong Buy” rating.

Korea Investment CORP bought a new position in Loews Corporation (NYSE:L - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 82,287 shares of the insurance provider's stock, valued at approximately $9,316,000.

A number of other large investors have also modified their holdings of L. Callan Family Office LLC purchased a new stake in shares of Loews during the 2nd quarter valued at about $689,000. Keating Financial Advisory Services Inc. purchased a new position in Loews in the 2nd quarter worth approximately $28,000. OneAscent Financial Services LLC acquired a new stake in Loews in the second quarter valued at approximately $423,000. Allworth Financial LP acquired a new stake in Loews in the second quarter valued at approximately $154,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Loews during the second quarter valued at approximately $3,133,000. Institutional investors and hedge funds own 58.33% of the company's stock.

Insider Activity at Loews

In related news, Director Dino Robusto purchased 5,000 shares of the firm's stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the transaction, the director owned 10,235 shares of the company's stock, valued at $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.00% of the company's stock.

Loews Stock Up 1.5%

Shares of Loews stock opened at $111.44 on Tuesday. Loews Corporation has a 1-year low of $95.10 and a 1-year high of $121.01. The company has a market capitalization of $22.78 billion, a PE ratio of 13.66 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50-day moving average of $113.80 and a 200-day moving average of $110.24.

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

Loews Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Loews currently has a consensus rating of "Strong Buy".

Loews Company Profile

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.

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