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

Kentucky Retirement Systems reduced its stake in shares of Loews Co. (NYSE:L) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,521 shares of the insurance provider’s stock after selling 172 shares during the period. Kentucky Retirement Systems’ holdings in Loews were worth $1,060,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new stake in shares of Loews in the third quarter valued at $40,000. Eastern Bank acquired a new position in Loews in the 3rd quarter valued at about $47,000. Wilmington Savings Fund Society FSB purchased a new position in Loews in the 3rd quarter valued at about $49,000. Human Investing LLC acquired a new stake in shares of Loews during the 4th quarter worth about $51,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Loews by 10.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock worth $105,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Insider Activity at Loews

In related news, Director Andrew H. Tisch sold 7,533 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the sale, the director now directly owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,370 shares of company stock worth $1,055,627. 18.70% of the stock is owned by insiders.

Loews Stock Down 0.3 %

Shares of NYSE:L opened at $82.72 on Monday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market cap of $17.61 billion, a price-to-earnings ratio of 12.93 and a beta of 0.83. The stock’s 50-day moving average price is $84.37 and its two-hundred day moving average price is $82.21. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.29.

Loews (NYSE:L) last released its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is currently 3.91%.

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.