Loews Co. (NYSE:L) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its stake in Loews Co. (NYSE:L - Free Report) by 17.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,208 shares of the insurance provider's stock after selling 16,615 shares during the period. State of Alaska Department of Revenue's holdings in Loews were worth $6,418,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Loews by 5.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 174,867 shares of the insurance provider's stock valued at $13,690,000 after buying an additional 8,527 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in Loews during the 1st quarter worth $1,516,000. Bessemer Group Inc. raised its holdings in shares of Loews by 453.9% in the first quarter. Bessemer Group Inc. now owns 18,429 shares of the insurance provider's stock valued at $1,443,000 after buying an additional 15,102 shares during the last quarter. Swedbank AB boosted its stake in shares of Loews by 15.6% during the second quarter. Swedbank AB now owns 349,047 shares of the insurance provider's stock worth $26,088,000 after buying an additional 47,013 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Loews by 25.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 218,841 shares of the insurance provider's stock worth $17,133,000 after buying an additional 44,426 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on L. Jefferies Financial Group dropped their price objective on shares of Loews from $115.00 to $112.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada upgraded shares of Loews to a "moderate buy" rating in a research report on Friday, July 26th.

Loews Trading Down 1.1 %

Shares of NYSE L traded down $0.86 during midday trading on Tuesday, reaching $79.76. 579,135 shares of the stock were exchanged, compared to its average volume of 706,298. The stock has a 50 day moving average price of $79.71 and a 200-day moving average price of $77.58. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $17.66 billion, a P/E ratio of 11.83 and a beta of 0.81. Loews Co. has a 52-week low of $62.18 and a 52-week high of $83.54.

Loews (NYSE:L - Get Free Report) last released its earnings results on Monday, July 29th. The insurance provider reported $1.67 EPS for the quarter. Loews had a return on equity of 9.26% and a net margin of 9.14%. The firm had revenue of $4.27 billion during the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 annualized dividend and a dividend yield of 0.31%. Loews's dividend payout ratio is presently 3.71%.

Insiders Place Their Bets

In related news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the sale, the director now directly owns 4,998 shares in the company, valued at approximately $406,737.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Loews news, Director Ann E. Berman sold 1,087 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the sale, the director now owns 4,998 shares in the company, valued at $406,737.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan M. Tisch sold 62,500 shares of Loews stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the sale, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,587 shares of company stock worth $7,186,460 over the last three months. 18.70% of the stock is owned by insiders.

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.