Teacher Retirement System of Texas Decreases Stake in Loews Co. (NYSE:L)

Teacher Retirement System of Texas reduced its stake in Loews Co. (NYSE:L) by 11.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 100,476 shares of the insurance provider’s stock after selling 13,037 shares during the period. Teacher Retirement System of Texas’ holdings in Loews were worth $8,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp raised its position in shares of Loews by 1.0% in the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after purchasing an additional 82,581 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Loews by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock valued at $336,005,000 after purchasing an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Loews by 0.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock valued at $268,640,000 after purchasing an additional 8,750 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Loews by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider’s stock valued at $137,477,000 after purchasing an additional 11,540 shares during the last quarter. Finally, Boston Partners raised its position in shares of Loews by 16.9% in the 4th quarter. Boston Partners now owns 1,499,417 shares of the insurance provider’s stock valued at $126,983,000 after purchasing an additional 217,115 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Andrew H. Tisch sold 7,533 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total transaction of $635,408.55. Following the sale, the director now owns 1,568,191 shares of the company’s stock, valued at $132,276,910.85. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the sale, the director now directly owns 7,105,529 shares in the company, valued at $604,538,407.32. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,860 shares of company stock worth $13,486,463. 18.70% of the stock is owned by company insiders.

Loews Price Performance

Shares of NYSE:L opened at $87.22 on Friday. Loews Co. has a twelve month low of $72.91 and a twelve month high of $88.66. The company’s 50 day moving average is $85.23 and its 200 day moving average is $83.06. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market cap of $18.57 billion, a PE ratio of 13.63 and a beta of 0.80.

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

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s dividend payout ratio (DPR) is presently 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.