Teacher Retirement System of Texas Trims Holdings in Loews Co. (NYSE:L)

Teacher Retirement System of Texas cut its holdings in Loews Co. (NYSE:L) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,476 shares of the insurance provider’s stock after selling 13,037 shares during the quarter. Teacher Retirement System of Texas’ holdings in Loews were worth $8,509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of L. State Street Corp grew its position in 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 purchasing an additional 82,581 shares during the last quarter. Geode Capital Management LLC grew its position in Loews by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock valued at $336,005,000 after purchasing an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Loews by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock valued at $268,640,000 after purchasing an additional 8,750 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Loews by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider’s stock valued at $137,477,000 after purchasing an additional 11,540 shares during the last quarter. Finally, Boston Partners grew its position in Loews by 16.9% during the 4th quarter. Boston Partners now owns 1,499,417 shares of the insurance provider’s stock valued at $126,983,000 after purchasing an additional 217,115 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Insider Transactions at Loews

In related news, Director Jonathan M. Tisch sold 47,636 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the completion of the sale, the director now directly owns 6,705,529 shares of the company’s stock, valued at $569,165,301.52. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,860 shares of company stock worth $13,486,463. Insiders own 18.70% of the company’s stock.

Loews Price Performance

L stock opened at $87.22 on Friday. Loews Co. has a one year low of $72.91 and a one year high of $88.66. The company’s fifty day moving average price is $85.23 and its 200-day moving average price is $83.06. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market capitalization of $18.57 billion, a PE ratio of 13.63 and a beta of 0.80.

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 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s payout ratio is presently 3.91%.

About Loews

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.