Loews Co. (NYSE:L) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its stake in Loews Co. (NYSE:L) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,700 shares of the insurance provider’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Loews were worth $821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in shares of Loews by 345.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider’s stock valued at $25,114,000 after buying an additional 229,965 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Loews by 92.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,484 shares of the insurance provider’s stock valued at $37,745,000 after buying an additional 229,956 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Loews by 22.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider’s stock valued at $44,992,000 after buying an additional 105,810 shares during the last quarter. Barclays PLC boosted its stake in shares of Loews by 13.1% during the 3rd 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. Finally, State Street Corp boosted its stake in shares of Loews by 1.0% during the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after buying an additional 82,581 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling

In related news, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the transaction, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders have sold a total of 12,370 shares of company stock valued at $1,055,627 over the last three months. Company insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Loews Price Performance

Shares of NYSE L opened at $82.95 on Tuesday. Loews Co. has a 1-year low of $72.91 and a 1-year high of $88.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The business’s fifty day moving average price is $84.50 and its two-hundred day moving average price is $82.00. The firm has a market capitalization of $18.07 billion, a PE ratio of 11.02 and a beta of 0.83.

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

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Wednesday, February 26th. Loews’s payout ratio is currently 3.32%.

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.