Loews Corporation $L Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in Loews Corporation (NYSE:L) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 412,840 shares of the insurance provider’s stock after selling 34,911 shares during the quarter. California Public Employees Retirement System’s holdings in Loews were worth $44,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Loews by 12.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock valued at $38,724,000 after acquiring an additional 39,968 shares in the last quarter. UBS Group AG lifted its holdings in shares of Loews by 4.8% in the fourth quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock valued at $85,427,000 after purchasing an additional 37,327 shares in the last quarter. Accurate Wealth Management LLC purchased a new stake in shares of Loews in the fourth quarter valued at about $2,095,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Loews by 294.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider’s stock valued at $15,645,000 after purchasing an additional 110,901 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Loews by 5,379.4% in the fourth quarter. SG Americas Securities LLC now owns 165,807 shares of the insurance provider’s stock valued at $17,461,000 after purchasing an additional 162,781 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity

In other news, Director Dino Robusto acquired 5,000 shares of Loews stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the purchase, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 19.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Loews Trading Up 0.1%

Loews stock opened at $114.61 on Tuesday. The stock has a 50-day moving average price of $109.82 and a 200 day moving average price of $108.37. Loews Corporation has a 52 week low of $89.32 and a 52 week high of $119.10. The stock has a market cap of $23.58 billion, a PE ratio of 14.56 and a beta of 0.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

Loews (NYSE:L) last released its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The company had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio is presently 3.18%.

Loews Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.