Loews Co. (NYSE:L) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Loews Co. (NYSE:L) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,394 shares of the insurance provider’s stock after selling 462 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Loews were worth $426,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of L. Orion Portfolio Solutions LLC raised its stake in Loews by 22.0% during the first quarter. Orion Portfolio Solutions LLC now owns 18,299 shares of the insurance provider’s stock valued at $1,433,000 after buying an additional 3,296 shares in the last quarter. Covestor Ltd raised its stake in Loews by 89.1% during the first quarter. Covestor Ltd now owns 1,303 shares of the insurance provider’s stock valued at $102,000 after buying an additional 614 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in Loews by 487.5% during the first quarter. UniSuper Management Pty Ltd now owns 14,483 shares of the insurance provider’s stock valued at $1,134,000 after buying an additional 12,018 shares in the last quarter. Bessemer Group Inc. raised its stake in Loews by 453.9% during the first quarter. Bessemer Group Inc. now owns 18,429 shares of the insurance provider’s stock valued at $1,443,000 after buying an additional 15,102 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in Loews by 0.4% during the first quarter. Toronto Dominion Bank now owns 126,561 shares of the insurance provider’s stock valued at $9,908,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com cut Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group lowered their target price on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, July 31st.

Loews Stock Down 0.3 %

NYSE:L opened at $84.14 on Wednesday. The firm has a market capitalization of $18.32 billion, a PE ratio of 11.17 and a beta of 0.82. The stock has a 50 day moving average of $80.01 and a 200-day moving average of $78.24. Loews Co. has a 52 week low of $66.60 and a 52 week high of $84.59. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is presently 3.32%.

Insider Activity

In related news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at $406,737.24. This represents a 17.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,587 shares of company stock valued at $17,586,460. 18.70% of the stock is currently owned by insiders.

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.