State of Tennessee Department of Treasury Has $9.64 Million Holdings in Loews Co. (NYSE:L)

State of Tennessee Department of Treasury boosted its stake in Loews Co. (NYSE:L - Free Report) by 60.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,873 shares of the insurance provider's stock after buying an additional 43,075 shares during the quarter. State of Tennessee Department of Treasury owned approximately 0.05% of Loews worth $9,644,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in L. Halbert Hargrove Global Advisors LLC bought a new position in Loews in the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Loews in the 3rd quarter valued at approximately $49,000. Human Investing LLC acquired a new position in Loews during the fourth quarter valued at approximately $51,000. Graney & King LLC acquired a new stake in Loews in the fourth quarter worth $56,000. Finally, Intact Investment Management Inc. bought a new position in shares of Loews during the fourth quarter worth $68,000. 58.33% of the stock is owned by institutional investors.

Loews Stock Up 0.2 %

NYSE:L traded up $0.14 on Tuesday, hitting $86.10. 65,490 shares of the company's stock were exchanged, compared to its average volume of 729,765. Loews Co. has a 52 week low of $73.15 and a 52 week high of $92.42. The company has a market cap of $18.11 billion, a P/E ratio of 13.44 and a beta of 0.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a 50-day moving average price of $86.17 and a 200-day moving average price of $84.59.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. Loews's dividend payout ratio is presently 3.91%.

Insider Activity

In other news, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the completion of the sale, the director now owns 6,755,529 shares of the company's stock, valued at approximately $571,923,085.14. This represents a 0.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,327 shares of company stock worth $12,851,055. Corporate insiders own 18.70% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Loews from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th.

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.