Kentucky Retirement Systems Insurance Trust Fund Invests $249,000 in Loews Co. (L)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Loews Co. (NYSE:L) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,469 shares of the insurance provider’s stock, valued at approximately $249,000.

Several other institutional investors also recently bought and sold shares of L. Janus Henderson Group PLC lifted its stake in Loews by 4.4% during the third quarter. Janus Henderson Group PLC now owns 130,188 shares of the insurance provider’s stock valued at $6,539,000 after purchasing an additional 5,523 shares during the last quarter. FMR LLC lifted its stake in Loews by 4.2% during the third quarter. FMR LLC now owns 293,467 shares of the insurance provider’s stock valued at $14,741,000 after purchasing an additional 11,715 shares during the last quarter. Shell Asset Management Co. lifted its stake in Loews by 20.9% during the third quarter. Shell Asset Management Co. now owns 25,297 shares of the insurance provider’s stock valued at $1,271,000 after purchasing an additional 4,379 shares during the last quarter. Pictet Asset Management Ltd. lifted its stake in Loews by 7.7% during the third quarter. Pictet Asset Management Ltd. now owns 194,861 shares of the insurance provider’s stock valued at $9,788,000 after purchasing an additional 13,916 shares during the last quarter. Finally, Quantbot Technologies LP lifted its stake in Loews by 27.8% during the third quarter. Quantbot Technologies LP now owns 17,541 shares of the insurance provider’s stock valued at $881,000 after purchasing an additional 3,817 shares during the last quarter. Institutional investors and hedge funds own 65.43% of the company’s stock.

Shares of L opened at $48.68 on Tuesday. Loews Co. has a 12 month low of $42.06 and a 12 month high of $53.04. The firm has a market cap of $14.92 billion, a PE ratio of 17.14 and a beta of 0.66. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.53.

Loews (NYSE:L) last posted its earnings results on Monday, February 11th. The insurance provider reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($1.06). Loews had a net margin of 4.52% and a return on equity of 4.16%. The firm had revenue of $3.29 billion during the quarter. During the same quarter in the previous year, the firm earned $0.81 EPS. Equities research analysts forecast that Loews Co. will post 3.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 27th were paid a $0.0625 dividend. The ex-dividend date was Tuesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.51%. Loews’s payout ratio is presently 8.80%.

In other Loews news, Director Joseph L. Bower sold 812 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $47.56, for a total value of $38,618.72. Following the completion of the sale, the director now directly owns 10,886 shares of the company’s stock, valued at approximately $517,738.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ann E. Berman sold 1,399 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $48.24, for a total transaction of $67,487.76. Following the completion of the sale, the director now directly owns 1,500 shares of the company’s stock, valued at $72,360. The disclosure for this sale can be found here. Insiders sold a total of 70,555 shares of company stock worth $3,249,927 over the last quarter. 12.30% of the stock is currently owned by company insiders.

Several brokerages recently commented on L. Zacks Investment Research upgraded shares of Loews from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Barclays restated an “average” rating and issued a $72.00 price target on shares of Loews in a research report on Thursday, February 21st. Finally, Scotiabank restated an “average” rating and issued a $68.00 price target on shares of Loews in a research report on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.24.

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About Loews

Loews Corp. is a holding company, which engages in the oil and gas business. It operates through the following segments: CNA Financial, Diamond Offshore, Boardwalk Pipeline, Loews Hotels and Corporate. The CNA Financial segment offers property, casualty, insurance, and underwriting services. The Diamond Offshore segment manages drilling rigs.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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