Retirement Systems of Alabama Sells 739 Shares of Loews Co. (NYSE:L)

Retirement Systems of Alabama lessened its stake in shares of Loews Co. (NYSE:L) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,136 shares of the insurance provider’s stock after selling 739 shares during the period. Retirement Systems of Alabama’s holdings in Loews were worth $3,314,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of L. State Street Corp raised its position in Loews by 1.0% during the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after acquiring an additional 82,581 shares during the period. Geode Capital Management LLC raised its position in Loews by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after acquiring an additional 53,428 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Loews by 2.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock valued at $251,627,000 after buying an additional 69,459 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Loews by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after buying an additional 8,615 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Loews by 13.1% in the third quarter. Barclays PLC now owns 752,380 shares of the insurance provider’s stock valued at $59,473,000 after buying an additional 87,259 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Down 1.2 %

Shares of Loews stock opened at $84.88 on Wednesday. The company has a fifty day moving average price of $84.68 and a 200 day moving average price of $81.89. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. Loews Co. has a twelve month low of $72.50 and a twelve month high of $88.29. The stock has a market cap of $18.49 billion, a price-to-earnings ratio of 11.27 and a beta of 0.83.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%.

Insider Buying and Selling at Loews

In other news, Director Charles M. Diker sold 1,146 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the transaction, the director now directly owns 1,568,191 shares in the company, valued at $132,276,910.85. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,370 shares of company stock valued at $5,218,627 in the last ninety days. Insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Loews from a “buy” rating to a “hold” rating in a report on Tuesday.

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.