California Public Employees Retirement System Trims Stake in Loews Corporation $L

Key Points

• CalPERS reduced its stake in Loews Corporation by 7.8% in the first quarter, selling 34,911 shares and leaving it with 412,840 shares valued at about $44.1 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 58.33% of Loews shares; several smaller firms also modestly increased their positions.
• Loews continues to show steady operating and shareholder returns, reporting $1.63 EPS on $4.55 billion in revenue, while also paying a quarterly dividend of $0.0625 per share.

California Public Employees Retirement System cut its position in Loews Corporation (NYSE:L - Free Report) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 412,840 shares of the insurance provider's stock after selling 34,911 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of Loews worth $44,067,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hancock Whitney Corp lifted its stake in Loews by 3.9% in the third quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider's stock valued at $263,000 after buying an additional 98 shares during the last quarter. IFM Investors Pty Ltd grew its position in shares of Loews by 0.3% during the fourth quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider's stock worth $3,356,000 after acquiring an additional 100 shares during the last quarter. Independent Advisor Alliance increased its holdings in shares of Loews by 4.3% in the 4th quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider's stock valued at $274,000 after acquiring an additional 107 shares during the period. Ballentine Partners LLC increased its holdings in shares of Loews by 2.7% in the 4th quarter. Ballentine Partners LLC now owns 4,197 shares of the insurance provider's stock valued at $442,000 after acquiring an additional 111 shares during the period. Finally, Sanctuary Advisors LLC raised its position in Loews by 0.8% in the 4th quarter. Sanctuary Advisors LLC now owns 14,006 shares of the insurance provider's stock valued at $1,475,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Loews has a consensus rating of "Buy".

Loews Stock Performance

NYSE L opened at $114.61 on Tuesday. The firm has a market cap of $23.58 billion, a P/E ratio of 14.56 and a beta of 0.52. Loews Corporation has a 52-week low of $89.32 and a 52-week high of $119.10. The business's 50-day moving average price is $109.82 and its 200 day moving average price is $108.37. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.The firm had revenue of $4.55 billion during the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews's dividend payout ratio (DPR) is 3.18%.

Insiders Place Their Bets

In other news, Director Dino Robusto acquired 5,000 shares of the company's stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $104.74 per share, with a total value of $523,700.00. Following the purchase, the director owned 10,235 shares of the company's stock, valued at $1,072,013.90. This represents a 95.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 19.00% of the stock is currently owned by company insiders.

About Loews

Loews Corporation NYSE: L is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews' principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.

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