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

Kentucky Retirement Systems lessened its holdings in shares of Loews Co. (NYSE:L) by 1.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,681 shares of the insurance provider’s stock after selling 156 shares during the period. Kentucky Retirement Systems’ holdings in Loews were worth $1,023,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of Loews by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 20,526 shares of the insurance provider’s stock worth $1,428,000 after purchasing an additional 145 shares during the last quarter. Optas LLC boosted its holdings in Loews by 1.9% in the second quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock valued at $604,000 after acquiring an additional 151 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Loews by 3.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,003 shares of the insurance provider’s stock valued at $392,000 after acquiring an additional 164 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Loews by 6.2% in the second quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock valued at $239,000 after acquiring an additional 186 shares during the last quarter. Finally, Empirical Finance LLC boosted its holdings in Loews by 3.2% in the first quarter. Empirical Finance LLC now owns 7,222 shares of the insurance provider’s stock valued at $565,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

L has been the topic of several recent research reports. Jefferies Financial Group decreased their price target on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a report on Friday, July 26th.

Loews Price Performance

Shares of L opened at $78.54 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 1 year low of $61.43 and a 1 year high of $83.54. The stock has a market cap of $17.39 billion, a P/E ratio of 11.65 and a beta of 0.82. The stock’s 50-day moving average price is $79.09 and its two-hundred day moving average price is $77.00.

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

Loews Dividend Announcement

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

Insiders Place Their Bets

In other Loews news, Director Jonathan C. Locker purchased 6,200 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were bought at an average price of $80.63 per share, with a total value of $499,906.00. Following the completion of the transaction, the director now directly owns 23,068 shares in the company, valued at approximately $1,859,972.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Loews news, Director Jonathan C. Locker purchased 6,200 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were bought at an average price of $80.63 per share, with a total value of $499,906.00. Following the completion of the transaction, the director now directly owns 23,068 shares in the company, valued at approximately $1,859,972.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan M. Tisch sold 62,500 shares of the firm’s 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 sale, the insider now directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,215 shares of company stock worth $7,399,013. 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.