Loews Corporation (NYSE:L) Shares Sold by Teacher Retirement System of Texas

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

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

Insider Buying and Selling

In related news, SVP Richard Waldo Scott sold 9,019 shares of Loews stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the sale, the senior vice president directly owned 33,901 shares in the company, valued at $2,980,575.92. This trade represents a 21.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Loews Stock Performance

Shares of NYSE L traded up $0.07 during midday trading on Friday, hitting $90.57. The company's stock had a trading volume of 862,143 shares, compared to its average volume of 739,772. 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 1-year low of $75.16 and a 1-year high of $92.85. The firm's fifty day moving average price is $89.21 and its 200-day moving average price is $86.81. The firm has a market cap of $18.99 billion, a P/E ratio of 14.87 and a beta of 0.70.

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

Loews Announces Dividend

The business also recently disclosed 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 0.28%. Loews's payout ratio is currently 4.11%.

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.