Kentucky Retirement Systems Buys 14,525 Shares of Loews Corporation $L

Kentucky Retirement Systems grew its stake in Loews Corporation (NYSE:L) by 135.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 25,252 shares of the insurance provider’s stock after buying an additional 14,525 shares during the period. Kentucky Retirement Systems’ holdings in Loews were worth $2,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in L. Integrated Wealth Concepts LLC grew its position in Loews by 22.6% during the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock worth $329,000 after buying an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Loews by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock valued at $2,108,000 after acquiring an additional 2,057 shares during the period. Empowered Funds LLC raised its holdings in Loews by 12.2% in the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock valued at $350,000 after acquiring an additional 414 shares in the last quarter. Woodline Partners LP raised its holdings in Loews by 37.5% in the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after acquiring an additional 4,071 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Loews by 53.5% in the 2nd quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock worth $656,000 after acquiring an additional 2,493 shares during the period. Institutional investors own 58.33% of the company’s stock.

Insiders Place Their Bets

In related news, Director Dino Robusto acquired 5,000 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 19.00% of the company’s stock.

Loews Trading Down 2.1%

Shares of L stock opened at $116.40 on Friday. The firm has a fifty day moving average of $111.49 and a 200-day moving average of $109.04. The stock has a market cap of $23.95 billion, a price-to-earnings ratio of 14.79 and a beta of 0.52. Loews Corporation has a 52-week low of $89.32 and a 52-week high of $121.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36.

Loews (NYSE:L) last issued its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. The business had revenue of $4.55 billion for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is currently 3.18%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Loews from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Strong Buy”.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.