Vestcor Inc Has $403,000 Stock Position in Loews Co. (NYSE:L)

Vestcor Inc reduced its position in Loews Co. (NYSE:L) by 35.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,754 shares of the insurance provider’s stock after selling 2,600 shares during the quarter. Vestcor Inc’s holdings in Loews were worth $403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV raised its holdings in shares of Loews by 1.6% during the 3rd quarter. KBC Group NV now owns 62,785 shares of the insurance provider’s stock valued at $4,963,000 after purchasing an additional 999 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Loews by 1.7% during the third quarter. CIBC Asset Management Inc now owns 64,856 shares of the insurance provider’s stock valued at $5,120,000 after buying an additional 1,105 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Loews by 7.2% during the 3rd quarter. Empowered Funds LLC now owns 2,990 shares of the insurance provider’s stock worth $236,000 after acquiring an additional 200 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Loews by 5.6% during the 3rd quarter. Natixis Advisors LLC now owns 68,620 shares of the insurance provider’s stock valued at $5,424,000 after acquiring an additional 3,612 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Loews in the 3rd quarter valued at approximately $129,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan M. Tisch sold 47,636 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the sale, the director now directly owns 6,705,529 shares in the company, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,860 shares of company stock valued at $13,486,463. Insiders own 18.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Loews Trading Up 1.2 %

Shares of NYSE:L opened at $87.48 on Tuesday. The company has a market cap of $18.62 billion, a P/E ratio of 13.67 and a beta of 0.80. The stock’s 50-day moving average is $84.85 and its 200-day moving average is $82.91. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a 52-week low of $72.91 and a 52-week high of $88.29.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. Loews’s payout ratio is 3.91%.

Loews 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.