Alaska Permanent Fund Corp Increases Stake in Loews Co. (NYSE:L)

Alaska Permanent Fund Corp increased its position in shares of Loews Co. (NYSE:L) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,034 shares of the insurance provider’s stock after buying an additional 842 shares during the period. Alaska Permanent Fund Corp’s holdings in Loews were worth $1,394,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in Loews during the third quarter valued at about $29,000. Operose Advisors LLC acquired a new stake in Loews in the third quarter worth about $30,000. Desjardins Global Asset Management Inc. raised its stake in shares of Loews by 225.2% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 340 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Loews by 41.4% in the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 179 shares during the last quarter. Finally, Hanson & Doremus Investment Management purchased a new position in shares of Loews in the third quarter worth about $147,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Trading Down 0.5 %

Shares of NYSE:L opened at $76.41 on Friday. Loews Co. has a 52-week low of $55.31 and a 52-week high of $78.55. The stock has a market cap of $16.98 billion, a price-to-earnings ratio of 12.13 and a beta of 0.83. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $75.71 and a 200-day moving average price of $71.18.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. The company had revenue of $4.26 billion during the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.33%. The ex-dividend date was Tuesday, February 20th. Loews’s dividend payout ratio is currently 3.97%.

Insider Activity at Loews

In other news, insider Jonathan M. Tisch sold 4,287 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $71.91, for a total value of $308,278.17. Following the completion of the sale, the insider now directly owns 106,870 shares in the company, valued at $7,685,021.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Andrew H. Tisch sold 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total value of $9,130,000.00. Following the completion of the sale, the director now directly owns 945,886 shares in the company, valued at $69,087,513.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan M. Tisch sold 4,287 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the completion of the sale, the insider now owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,563 shares of company stock worth $10,052,551. 18.70% of the stock is owned by corporate insiders.

About Loews

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.