State of Wyoming Increases Stake in Loews Co. (NYSE:L)

State of Wyoming increased its holdings in shares of Loews Co. (NYSE:L - Free Report) by 89.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,940 shares of the insurance provider's stock after acquiring an additional 2,800 shares during the period. State of Wyoming's holdings in Loews were worth $503,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Toronto Dominion Bank boosted its stake in Loews by 5.4% during the fourth quarter. Toronto Dominion Bank now owns 97,517 shares of the insurance provider's stock worth $8,259,000 after acquiring an additional 5,039 shares in the last quarter. Rafferty Asset Management LLC grew its position in Loews by 3.2% during the 4th quarter. Rafferty Asset Management LLC now owns 63,780 shares of the insurance provider's stock valued at $5,402,000 after purchasing an additional 2,007 shares during the last quarter. ProShare Advisors LLC grew its position in Loews by 5.6% during the 4th quarter. ProShare Advisors LLC now owns 56,480 shares of the insurance provider's stock valued at $4,783,000 after purchasing an additional 2,988 shares during the last quarter. Quantinno Capital Management LP grew its position in Loews by 37.7% during the 4th quarter. Quantinno Capital Management LP now owns 86,847 shares of the insurance provider's stock valued at $7,355,000 after purchasing an additional 23,798 shares during the last quarter. Finally, Mufg Securities Americas Inc. bought a new position in Loews during the 4th quarter valued at about $226,000. Institutional investors own 58.33% of the company's stock.

Insider Transactions at Loews

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following the sale, the senior vice president now owns 33,901 shares in the company, valued at approximately $2,980,575.92. This trade 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. Also, Director Jonathan M. Tisch sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the sale, the director now owns 6,755,529 shares in the company, valued at approximately $571,923,085.14. The trade was a 0.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,655 shares of company stock worth $13,323,294 in the last quarter. Company insiders own 18.70% of the company's stock.

Analyst Ratings Changes

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

Loews Stock Performance

L traded down $0.22 during midday trading on Thursday, hitting $87.51. 606,544 shares of the company traded hands, compared to its average volume of 728,459. The company's 50-day moving average is $87.17 and its 200 day moving average is $85.40. Loews Co. has a 52 week low of $73.15 and a 52 week high of $92.42. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $18.35 billion, a PE ratio of 13.67 and a beta of 0.70.

Loews (NYSE:L - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%. The firm had revenue of $4.49 billion for the quarter.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Wednesday, May 28th. Loews's dividend payout ratio (DPR) is presently 4.11%.

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.