California State Teachers Retirement System Trims Position in Loews Corporation $L

Key Points

• CalSTRS reduced its Loews stake by 2.2% in the first quarter, selling 16,263 shares and retaining 729,574 shares valued at approximately $77.9 million. Institutional investors collectively own 58.33% of the company.
• Loews reported quarterly EPS of $1.63 on $4.55 billion in revenue, with an 8.83% net margin and 8.51% return on equity. Its shares opened at $119.17, near the 52-week high of $121.01.
• The company declared a quarterly dividend of $0.0625 per share, representing a $0.25 annualized payout and a 0.2% yield. Separately, director Dino Robusto bought 5,000 shares, while Weiss Ratings upgraded Loews to “buy (a-).”

California State Teachers Retirement System lowered its position in Loews Corporation (NYSE:L - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 729,574 shares of the insurance provider's stock after selling 16,263 shares during the period. California State Teachers Retirement System owned about 0.35% of Loews worth $77,875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in L. DV Equities LLC purchased a new position in shares of Loews in the fourth quarter worth $25,000. Harbor Capital Advisors Inc. purchased a new position in Loews during the 4th quarter valued at approximately $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Loews during the 3rd quarter worth approximately $30,000. Private Trust Co. NA increased its position in Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider's stock worth $31,000 after purchasing an additional 269 shares during the last quarter. Finally, SHP Wealth Management bought a new position in Loews during the fourth quarter valued at $35,000. Institutional investors own 58.33% of the company's stock.

Loews Stock Performance

Shares of Loews stock opened at $119.17 on Thursday. The company has a market capitalization of $24.52 billion, a PE ratio of 15.14 and a beta of 0.52. Loews Corporation has a 52 week low of $89.32 and a 52 week high of $121.01. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock's fifty day moving average is $111.34 and its two-hundred day moving average is $108.96.

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

Loews Announces Dividend

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

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Loews from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Strong Buy".

Insider Buying and Selling at Loews

In other news, Director Dino Robusto acquired 5,000 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares of the company's stock, valued at $1,072,013.90. The trade was a 95.51% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 19.00% of the company's stock.

Loews Profile

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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