Illinois Municipal Retirement Fund Sells 48,607 Shares of Loews Co. (NYSE:L)

Illinois Municipal Retirement Fund decreased its holdings in Loews Co. (NYSE:L) by 41.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,551 shares of the insurance provider’s stock after selling 48,607 shares during the period. Illinois Municipal Retirement Fund’s holdings in Loews were worth $4,701,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Exchange Traded Concepts LLC bought a new position in Loews during the third quarter valued at approximately $1,331,000. Washington Trust Advisors Inc. bought a new position in Loews during the third quarter valued at approximately $51,000. Oak Thistle LLC bought a new position in Loews during the third quarter valued at approximately $1,123,000. Czech National Bank boosted its stake in Loews by 44.3% during the third quarter. Czech National Bank now owns 32,320 shares of the insurance provider’s stock valued at $2,046,000 after buying an additional 9,927 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in Loews during the third quarter valued at approximately $208,000. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other Loews news, Director Paul J. Fribourg sold 951 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the sale, the director now directly owns 21,200 shares in the company, valued at $1,590,424. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Paul J. Fribourg sold 951 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the sale, the director now directly owns 21,200 shares in the company, valued at $1,590,424. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Richard Waldo Scott sold 7,325 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total value of $542,929.00. Following the completion of the sale, the senior vice president now owns 51,965 shares in the company, valued at $3,851,645.80. The disclosure for this sale can be found here. Insiders have sold a total of 137,563 shares of company stock worth $10,052,551 over the last ninety days. Company insiders own 18.70% of the company’s stock.

Loews Price Performance

Shares of Loews stock opened at $76.81 on Thursday. The stock has a 50 day moving average of $75.69 and a 200 day moving average of $71.15. Loews Co. has a 12 month low of $55.31 and a 12 month high of $78.55. The firm has a market cap of $17.07 billion, a PE ratio of 12.19 and a beta of 0.83. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.48.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%. The business had revenue of $4.26 billion for the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.33%. Loews’s dividend payout ratio (DPR) is presently 3.97%.

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.