Kentucky Retirement Systems Decreases Stock Holdings in Loews Co. (NYSE:L)

Kentucky Retirement Systems trimmed its holdings in shares of Loews Co. (NYSE:L) by 7.2% in the third quarter, HoldingsChannel.com reports. The fund owned 12,693 shares of the insurance provider’s stock after selling 988 shares during the period. Kentucky Retirement Systems’ holdings in Loews were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of L. Versant Capital Management Inc increased its position in Loews by 244.0% in the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after buying an additional 266 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in Loews in the second quarter worth $45,000. Family Firm Inc. purchased a new stake in Loews in the second quarter worth $46,000. Eastern Bank purchased a new stake in Loews in the third quarter worth $47,000. Finally, Innealta Capital LLC purchased a new stake in Loews in the second quarter worth $51,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

L has been the subject of a number of recent research reports. StockNews.com downgraded Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Jefferies Financial Group decreased their target price on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada raised Loews to a “moderate buy” rating in a report on Friday, July 26th.

Loews Price Performance

Loews stock opened at $84.14 on Wednesday. Loews Co. has a one year low of $66.60 and a one year high of $84.59. The business has a fifty day moving average price of $80.01 and a 200-day moving average price of $78.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market capitalization of $18.32 billion, a P/E ratio of 11.17 and a beta of 0.82.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Wednesday, November 27th. Loews’s payout ratio is currently 3.32%.

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 62,500 shares of Loews stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the transaction, the insider now owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $4,163,000.00. Following the completion of the transaction, the director now owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock valued at $17,586,460 over the last three months. Company insiders own 18.70% of the company’s stock.

Loews 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.