State of Alaska Department of Revenue Sells 15,710 Shares of Loews Co. (NYSE:L)

State of Alaska Department of Revenue cut its holdings in Loews Co. (NYSE:L) by 19.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wedmont Private Capital lifted its position in Loews by 5.2% during the 4th quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock worth $249,000 after acquiring an additional 151 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of Loews by 2.6% in the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock worth $477,000 after purchasing an additional 153 shares during the period. Mather Group LLC. lifted its position in shares of Loews by 7.7% during the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock worth $190,000 after purchasing an additional 161 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in Loews by 4.3% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider’s stock valued at $325,000 after purchasing an additional 169 shares during the period. Finally, Perigon Wealth Management LLC grew its holdings in Loews by 5.9% in the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after buying an additional 183 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Performance

NYSE:L opened at $86.65 on Friday. The firm’s 50-day moving average is $84.68 and its 200-day moving average is $81.73. The company has a market cap of $18.87 billion, a price-to-earnings ratio of 11.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a 52-week low of $71.52 and a 52-week high of $87.45.

Loews Announces Dividend

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

Insiders Place Their Bets

In other news, Director Andrew H. Tisch sold 7,533 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the sale, the director now directly owns 1,568,191 shares in the company, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now owns 19,906 shares of the company’s stock, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,679 shares of company stock worth $11,134,916. 18.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a report 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.