Loews Corporation (NYSE:L) Holdings Reduced by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in Loews Corporation (NYSE:L) by 0.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 96,303 shares of the insurance provider’s stock after selling 727 shares during the period. New York State Teachers Retirement System’s holdings in Loews were worth $8,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC bought a new position in shares of Loews in the fourth quarter valued at approximately $27,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Loews by 387.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 345 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Loews in the first quarter valued at approximately $40,000. UMB Bank n.a. boosted its holdings in shares of Loews by 80.1% in the first quarter. UMB Bank n.a. now owns 470 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 209 shares in the last quarter. Finally, Graney & King LLC bought a new position in shares of Loews in the fourth quarter valued at approximately $56,000. Institutional investors own 58.33% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Richard Waldo Scott sold 9,019 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following the completion of the sale, the senior vice president directly owned 33,901 shares in the company, valued at approximately $2,980,575.92. This trade represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 19.00% of the company’s stock.

Loews Trading Up 1.1%

Shares of NYSE:L opened at $92.39 on Friday. The stock has a market capitalization of $19.37 billion, a price-to-earnings ratio of 15.17 and a beta of 0.70. Loews Corporation has a 1-year low of $73.15 and a 1-year high of $92.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33. The company has a 50 day moving average price of $88.78 and a 200 day moving average price of $86.53.

Loews (NYSE:L) last issued its earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. The firm had revenue of $4.49 billion during the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Wednesday, May 28th. Loews’s payout ratio is 4.11%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Loews from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

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.