Teachers Retirement System of The State of Kentucky Reduces Holdings in Loews Co. (NYSE:L)

Teachers Retirement System of The State of Kentucky lowered its position in Loews Co. (NYSE:L) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,851 shares of the insurance provider’s stock after selling 853 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Loews were worth $1,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Loews in the 3rd quarter worth about $40,000. Eastern Bank purchased a new stake in shares of Loews in the third quarter worth about $47,000. Kimelman & Baird LLC purchased a new stake in shares of Loews in the second quarter worth about $45,000. Family Firm Inc. bought a new position in shares of Loews in the second quarter valued at approximately $46,000. Finally, Innealta Capital LLC purchased a new position in Loews during the second quarter valued at approximately $51,000. 58.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Loews

In related news, Director Andrew H. Tisch sold 75,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total value of $6,237,000.00. Following the transaction, the director now owns 12,089,677 shares of the company’s stock, valued at $1,005,377,539.32. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the sale, the director now directly owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 126,146 shares of company stock worth $10,499,507 over the last three months. 18.70% of the stock is owned by insiders.

Loews Price Performance

Shares of NYSE L opened at $81.50 on Thursday. The stock’s 50-day simple moving average is $82.85 and its two-hundred day simple moving average is $79.54. Loews Co. has a twelve month low of $67.85 and a twelve month high of $87.45. The firm has a market capitalization of $17.75 billion, a P/E ratio of 10.82 and a beta of 0.83. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Wednesday, November 27th. Loews’s dividend payout ratio is currently 3.32%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

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.