Kentucky Retirement Systems Has $2.69 Million Holdings in Loews Corporation $L

Key Points

• Kentucky Retirement Systems increased its Loews stake by 135.4% during the first quarter, holding 25,252 shares valued at approximately $2.69 million. Institutional investors and hedge funds collectively own 58.33% of the company.
• Weiss Ratings upgraded Loews from “buy (b+)” to “buy (a-),” while the stock holds an average “Strong Buy” rating. Loews reported quarterly earnings of $1.63 per share on $4.55 billion in revenue.
• Loews declared a quarterly dividend of $0.0625, equivalent to $0.25 annually and a 0.2% yield. Director Dino Robusto also purchased 5,000 shares worth about $523,700, increasing his position by 95.51%.

Kentucky Retirement Systems lifted its stake in shares of Loews Corporation (NYSE:L - Free Report) by 135.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,252 shares of the insurance provider's stock after acquiring an additional 14,525 shares during the quarter. Kentucky Retirement Systems' holdings in Loews were worth $2,695,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in L. Norges Bank bought a new position in shares of Loews in the 4th quarter valued at approximately $577,279,000. Goldman Sachs Group Inc. lifted its holdings in Loews by 32.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider's stock worth $340,986,000 after purchasing an additional 786,381 shares during the last quarter. Caisse de depot et placement du Quebec boosted its position in Loews by 819.0% during the fourth quarter. Caisse de depot et placement du Quebec now owns 448,032 shares of the insurance provider's stock worth $47,182,000 after purchasing an additional 399,281 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Loews by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider's stock worth $419,581,000 after purchasing an additional 344,995 shares during the period. Finally, Geode Capital Management LLC boosted its position in Loews by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider's stock worth $524,599,000 after purchasing an additional 271,234 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews currently has an average rating of "Strong Buy".

Loews Trading Down 2.1%

Shares of NYSE:L opened at $116.40 on Friday. The company has a market cap of $23.95 billion, a P/E ratio of 14.79 and a beta of 0.52. The stock's 50-day moving average is $111.49 and its 200-day moving average is $109.04. Loews Corporation has a 52-week low of $89.32 and a 52-week high of $121.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.The business had revenue of $4.55 billion during the quarter.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 27th. Loews's payout ratio is currently 3.18%.

Insider Buying and Selling

In other Loews news, Director Dino Robusto purchased 5,000 shares of the company's stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 19.00% of the stock is currently owned by corporate insiders.

Loews Company Profile

Loews Corporation NYSE: L is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews' principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.

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