State of Alaska Department of Revenue Has $6.91 Million Stock Holdings in Loews Co. (NYSE:L)

Posted by on Mar 22nd, 2023

State of Alaska Department of Revenue cut its position in Loews Co. (NYSE:L – Get Rating) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 118,508 shares of the insurance provider’s stock after selling 3,373 shares during the period. State of Alaska Department of Revenue’s holdings in Loews were worth $6,911,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Wellington Shields & Co. LLC acquired a new stake in shares of Loews during the second quarter worth $95,000. Retirement Systems of Alabama raised its holdings in shares of Loews by 3.1% during the third quarter. Retirement Systems of Alabama now owns 66,425 shares of the insurance provider’s stock worth $3,311,000 after acquiring an additional 1,970 shares during the period. Assetmark Inc. grew its position in Loews by 52.7% in the third quarter. Assetmark Inc. now owns 13,501 shares of the insurance provider’s stock valued at $673,000 after purchasing an additional 4,661 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Loews by 14.8% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 130,485 shares of the insurance provider’s stock valued at $6,503,000 after purchasing an additional 16,854 shares in the last quarter. Finally, AlphaCrest Capital Management LLC grew its position in Loews by 142.8% in the third quarter. AlphaCrest Capital Management LLC now owns 45,325 shares of the insurance provider’s stock valued at $2,259,000 after purchasing an additional 26,658 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Up 1.4 %

Loews stock opened at $56.02 on Wednesday. The company has a market cap of $13.16 billion, a P/E ratio of 13.47 and a beta of 0.83. Loews Co. has a 1-year low of $49.36 and a 1-year high of $68.20. The company has a fifty day simple moving average of $59.87 and a 200 day simple moving average of $57.10. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.53.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Wednesday, February 22nd were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Tuesday, February 21st. Loews’s dividend payout ratio (DPR) is presently 6.01%.

Analysts Set New Price Targets

A number of research firms recently weighed in on L. StockNews.com began coverage on shares of Loews in a research report on Thursday, March 16th. They issued a “buy” rating for the company. TheStreet raised shares of Loews from a “c+” rating to a “b-” rating in a research report on Wednesday, November 23rd.

Insider Activity

In other news, Director Philip A. Laskawy sold 625 shares of Loews stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $60.96, for a total value of $38,100.00. Following the completion of the transaction, the director now owns 7,365 shares of the company’s stock, valued at approximately $448,970.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jonathan M. Tisch sold 3,791 shares of the firm’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $61.73, for a total transaction of $234,018.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip A. Laskawy sold 625 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $60.96, for a total transaction of $38,100.00. Following the sale, the director now owns 7,365 shares of the company’s stock, valued at approximately $448,970.40. The disclosure for this sale can be found here. Insiders sold a total of 35,676 shares of company stock valued at $2,166,036 in the last quarter. Company insiders own 17.50% of the company’s stock.

Loews Profile

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Loews Corp. is a holding company, which engages in the business of commercial property and casualty insurance, transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. It operates through the following segments: CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation, and Corporate.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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