Illinois Municipal Retirement Fund Has $8.68 Million Stake in Loews Corporation (NYSE:L)

Illinois Municipal Retirement Fund increased its position in Loews Corporation (NYSE:L - Free Report) by 86.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,474 shares of the insurance provider's stock after purchasing an additional 43,820 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Loews were worth $8,683,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of L. Trust Co. of Vermont lifted its holdings in shares of Loews by 20.6% during the first quarter. Trust Co. of Vermont now owns 1,349 shares of the insurance provider's stock valued at $124,000 after acquiring an additional 230 shares during the period. Balefire LLC lifted its holdings in Loews by 9.9% during the 1st quarter. Balefire LLC now owns 2,755 shares of the insurance provider's stock valued at $253,000 after purchasing an additional 248 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Loews by 1.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 494,732 shares of the insurance provider's stock worth $45,471,000 after buying an additional 5,114 shares during the last quarter. Hi Line Capital Management LLC increased its holdings in shares of Loews by 2.1% during the first quarter. Hi Line Capital Management LLC now owns 29,498 shares of the insurance provider's stock worth $2,711,000 after buying an additional 620 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Loews by 3.2% in the first quarter. Asset Management One Co. Ltd. now owns 77,207 shares of the insurance provider's stock valued at $7,096,000 after acquiring an additional 2,416 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Analyst Upgrades and Downgrades

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

Loews Trading Up 0.6%

NYSE:L traded up $0.59 during trading hours on Tuesday, hitting $92.25. The stock had a trading volume of 459,629 shares, compared to its average volume of 731,626. The business's 50 day moving average is $88.29 and its 200-day moving average is $86.33. The company has a market cap of $19.34 billion, a price-to-earnings ratio of 15.15 and a beta of 0.71. Loews Corporation has a one year low of $73.15 and a one year high of $92.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33.

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

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 paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.27%. Loews's payout ratio is 4.11%.

Insider Buying and Selling

In related news, SVP Richard Waldo Scott sold 9,019 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the transaction, the senior vice president directly owned 33,901 shares of the company's stock, valued at approximately $2,980,575.92. This represents a 21.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.70% of the company's stock.

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.