Kentucky Retirement Systems Insurance Trust Fund Sells 5,624 Shares of 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 the company in its most recent 13F filing with the SEC. The institutional investor owned 5,207 shares of the insurance provider's stock after selling 5,624 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Loews were worth $479,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Loews by 3.2% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock worth $329,000 after purchasing an additional 122 shares during the last quarter. Miracle Mile Advisors LLC grew its holdings in shares of Loews by 3.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock worth $354,000 after purchasing an additional 130 shares during the last quarter. Salvus Wealth Management LLC grew its holdings in shares of Loews by 1.4% in the 1st quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock worth $1,089,000 after purchasing an additional 165 shares during the last quarter. UMB Bank n.a. grew 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 worth $43,000 after purchasing an additional 209 shares during the last quarter. Finally, Metis Global Partners LLC grew its holdings in shares of Loews by 3.7% in the 4th quarter. Metis Global Partners LLC now owns 6,158 shares of the insurance provider's stock worth $522,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Analyst Ratings Changes

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

Loews Price Performance

Shares of L traded up $0.41 during trading hours on Friday, hitting $90.45. The stock had a trading volume of 1,298,744 shares, compared to its average volume of 731,073. The company's fifty day moving average is $88.12 and its two-hundred day moving average is $86.28. 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 52 week low of $73.15 and a 52 week high of $92.42. The stock has a market capitalization of $18.97 billion, a price-to-earnings ratio of 14.85 and a beta of 0.71.

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

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 yield of 0.28%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews's dividend payout ratio is currently 4.11%.

Insiders Place Their Bets

In other news, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the transaction, the senior vice president now owns 33,901 shares of the company's stock, valued at approximately $2,980,575.92. This trade represents a 21.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 18.70% of the company's stock.

About Loews

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.