Kentucky Retirement Systems Has $1.02 Million Stock Holdings in Loews Co. (NYSE:L)

Kentucky Retirement Systems lessened its position in Loews Co. (NYSE:L) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,681 shares of the insurance provider’s stock after selling 156 shares during the quarter. Kentucky Retirement Systems’ holdings in Loews were worth $1,023,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP raised its position in Loews by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 20,526 shares of the insurance provider’s stock valued at $1,428,000 after buying an additional 145 shares during the last quarter. Optas LLC raised its position in Loews by 1.9% in the 2nd quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock valued at $604,000 after buying an additional 151 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Loews by 3.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,003 shares of the insurance provider’s stock valued at $392,000 after buying an additional 164 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Loews by 6.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock valued at $239,000 after buying an additional 186 shares during the last quarter. Finally, Empirical Finance LLC increased its position in shares of Loews by 3.2% during the 1st quarter. Empirical Finance LLC now owns 7,222 shares of the insurance provider’s stock worth $565,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group lowered their price target on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research report on Friday, July 26th.

Insider Transactions at Loews

In other Loews news, Director Jonathan C. Locker bought 6,200 shares of Loews stock in a transaction dated Tuesday, July 30th. The stock was bought at an average cost of $80.63 per share, for a total transaction of $499,906.00. Following the purchase, the director now owns 23,068 shares of the company’s stock, valued at approximately $1,859,972.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Mark S. Schwartz sold 2,628 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $80.88, for a total value of $212,552.64. Following the completion of the sale, the vice president now directly owns 14,933 shares in the company, valued at approximately $1,207,781.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan C. Locker purchased 6,200 shares of Loews stock in a transaction that occurred on Tuesday, July 30th. The stock was purchased at an average price of $80.63 per share, with a total value of $499,906.00. Following the completion of the purchase, the director now directly owns 23,068 shares in the company, valued at $1,859,972.84. The disclosure for this purchase can be found here. In the last three months, insiders sold 91,215 shares of company stock worth $7,399,013. 18.70% of the stock is owned by company insiders.

Loews Stock Down 0.9 %

NYSE:L opened at $78.54 on Friday. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of 11.65 and a beta of 0.82. Loews Co. has a twelve month low of $61.43 and a twelve month high of $83.54. The stock’s 50 day moving average price is $79.09 and its two-hundred day moving average price is $77.00. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last issued its earnings results on Monday, July 29th. The insurance provider reported $1.67 EPS for the quarter. Loews had a return on equity of 9.26% and a net margin of 9.14%. The company had revenue of $4.27 billion during the quarter.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. Loews’s dividend payout ratio is currently 3.71%.

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.