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

State of Alaska Department of Revenue cut its holdings in Loews Co. (NYSE:L) by 19.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 65,498 shares of the insurance provider’s stock after selling 15,710 shares during the period. State of Alaska Department of Revenue’s holdings in Loews were worth $5,546,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in shares of Loews during the 2nd quarter worth about $875,000. Czech National Bank raised its holdings in Loews by 7.3% during the third quarter. Czech National Bank now owns 37,115 shares of the insurance provider’s stock worth $2,934,000 after purchasing an additional 2,518 shares in the last quarter. Atomi Financial Group Inc. lifted its position in Loews by 4.3% in the third quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider’s stock worth $325,000 after purchasing an additional 169 shares during the period. CWM LLC boosted its stake in Loews by 9.9% during the 3rd quarter. CWM LLC now owns 4,022 shares of the insurance provider’s stock valued at $318,000 after purchasing an additional 363 shares in the last quarter. Finally, Ritholtz Wealth Management increased its position in shares of Loews by 34.6% during the 3rd quarter. Ritholtz Wealth Management now owns 5,317 shares of the insurance provider’s stock valued at $420,000 after purchasing an additional 1,368 shares during the period. Institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Insider Transactions at Loews

In related news, Director Charles M. Diker sold 1,146 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now directly owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 7,533 shares of Loews stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following the transaction, the director now directly owns 1,568,191 shares in the company, valued at approximately $132,276,910.85. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,679 shares of company stock valued at $11,134,916 over the last ninety days. Corporate insiders own 18.70% of the company’s stock.

Loews Stock Down 0.2 %

Shares of Loews stock opened at $86.65 on Friday. 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 Co. has a 12-month low of $71.52 and a 12-month high of $87.45. The firm has a market capitalization of $18.87 billion, a PE ratio of 11.51 and a beta of 0.83. The stock’s fifty day moving average is $84.68 and its 200-day moving average is $81.73.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Wednesday, November 27th. Loews’s payout ratio is 3.32%.

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.