Teacher Retirement System of Texas Sells 73,399 Shares of Loews Corporation (NYSE:L)

Teacher Retirement System of Texas reduced its position in Loews Corporation (NYSE:L - Free Report) by 73.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,077 shares of the insurance provider's stock after selling 73,399 shares during the quarter. Teacher Retirement System of Texas' holdings in Loews were worth $2,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of L. Novem Group acquired a new stake in shares of Loews in the 4th quarter worth $678,000. SG Americas Securities LLC grew its holdings in shares of Loews by 589.9% during the first quarter. SG Americas Securities LLC now owns 10,162 shares of the insurance provider's stock valued at $934,000 after buying an additional 8,689 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Loews by 13.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider's stock worth $206,000 after acquiring an additional 288 shares during the last quarter. Prudential Financial Inc. lifted its position in Loews by 14.8% during the 4th quarter. Prudential Financial Inc. now owns 162,256 shares of the insurance provider's stock worth $13,741,000 after acquiring an additional 20,874 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Loews during the 4th quarter valued at about $5,359,000. 58.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president directly owned 33,901 shares of the company's stock, valued at $2,980,575.92. This trade represents a 21.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 19.00% of the company's stock.

Loews Trading Down 0.6%

Shares of Loews stock opened at $91.08 on Thursday. 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 Corporation has a fifty-two week low of $74.67 and a fifty-two week high of $92.85. The firm has a 50-day simple moving average of $89.08 and a two-hundred day simple moving average of $86.72. The company has a market cap of $19.10 billion, a P/E ratio of 14.96 and a beta of 0.70.

Loews (NYSE:L - Get Free Report) last announced 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 business had revenue of $4.49 billion during the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews's payout ratio is 4.11%.

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.

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