Loews Corporation $L Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in Loews Corporation (NYSE:L) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 95,997 shares of the insurance provider’s stock after selling 306 shares during the period. New York State Teachers Retirement System’s holdings in Loews were worth $8,799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in shares of Loews in the first quarter valued at approximately $25,000. Sierra Ocean LLC increased its stake in shares of Loews by 805.9% in the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 274 shares during the last quarter. Elequin Capital LP purchased a new position in shares of Loews during the 1st quarter worth $30,000. Zions Bancorporation National Association UT purchased a new position in shares of Loews during the 1st quarter worth $33,000. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Loews during the 2nd quarter valued at about $60,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Up 0.6%

Shares of NYSE:L opened at $98.79 on Monday. The company has a market capitalization of $20.49 billion, a price-to-earnings ratio of 15.71 and a beta of 0.73. Loews Corporation has a 12-month low of $75.16 and a 12-month high of $103.52. The business has a 50-day moving average price of $97.93 and a 200 day moving average price of $91.95. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43.

Loews (NYSE:L) last announced its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The company had revenue of $4.56 billion during the quarter.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, August 20th. Loews’s dividend payout ratio (DPR) is 3.97%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Loews in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Loews currently has a consensus rating of “Buy”.

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.