Kentucky Retirement Systems Insurance Trust Fund Cuts Holdings in Loews Corporation (NYSE:L)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Loews Corporation (NYSE:L - Free Report) by 51.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,207 shares of the insurance provider's stock after selling 5,624 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Loews were worth $479,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Loews during the 4th quarter worth $26,000. Minot DeBlois Advisors LLC bought a new position in Loews in the fourth quarter worth about $27,000. Itau Unibanco Holding S.A. lifted its position in shares of Loews by 387.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after buying an additional 345 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Loews in the 1st quarter valued at about $40,000. Finally, UMB Bank n.a. boosted its holdings in shares of Loews by 80.1% in the 1st quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock valued at $43,000 after buying an additional 209 shares in the last quarter. Institutional investors own 58.33% of the company's stock.

Loews Trading Down 1.2%

Shares of NYSE:L opened at $88.88 on Thursday. The business's 50-day moving average is $87.92 and its 200 day moving average is $86.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.33 and a quick ratio of 0.33. Loews Corporation has a 1 year low of $73.15 and a 1 year high of $92.42. The firm has a market capitalization of $18.64 billion, a P/E ratio of 14.59 and a beta of 0.71.

Loews (NYSE:L - Get Free Report) last released its earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The company had revenue of $4.49 billion during the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews's dividend payout ratio (DPR) is presently 4.11%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

Insider Activity at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the sale, the senior vice president now directly owns 33,901 shares of the company's stock, valued at $2,980,575.92. This represents a 21.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.00% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.