Retirement Systems of Alabama Has $3.15 Million Stock Holdings in Loews Co. (NYSE:L)

Retirement Systems of Alabama lowered its stake in Loews Co. (NYSE:L) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,875 shares of the insurance provider’s stock after selling 172 shares during the quarter. Retirement Systems of Alabama’s holdings in Loews were worth $3,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Loews by 80.9% in the 2nd quarter. Blue Trust Inc. now owns 693 shares of the insurance provider’s stock valued at $54,000 after acquiring an additional 310 shares during the period. Raymond James & Associates lifted its stake in Loews by 7.2% in the 2nd quarter. Raymond James & Associates now owns 38,478 shares of the insurance provider’s stock valued at $2,876,000 after purchasing an additional 2,568 shares during the last quarter. Family Firm Inc. bought a new position in Loews during the second quarter worth about $46,000. Optas LLC increased its position in Loews by 1.9% during the second quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock worth $604,000 after buying an additional 151 shares during the last quarter. Finally, AlphaCentric Advisors LLC raised its stake in Loews by 30.2% in the second quarter. AlphaCentric Advisors LLC now owns 5,226 shares of the insurance provider’s stock valued at $391,000 after buying an additional 1,213 shares during the period. Institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of L stock opened at $83.19 on Friday. Loews Co. has a 52 week low of $67.85 and a 52 week high of $87.45. The company has a market capitalization of $18.12 billion, a price-to-earnings ratio of 11.05 and a beta of 0.83. The company has a 50-day simple moving average of $82.99 and a 200 day simple moving average of $79.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Wednesday, November 27th. Loews’s dividend payout ratio is presently 3.32%.

Insider Transactions at Loews

In other Loews news, Director Andrew H. Tisch sold 75,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total value of $6,237,000.00. Following the completion of the sale, the director now owns 12,089,677 shares of the company’s stock, valued at $1,005,377,539.32. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,146 shares of company stock worth $10,499,507. Company insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

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.