California State Teachers Retirement System Sells 16,263 Shares of Loews Corporation $L

California State Teachers Retirement System lowered its position in Loews Corporation (NYSE:L) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 729,574 shares of the insurance provider’s stock after selling 16,263 shares during the period. California State Teachers Retirement System’s holdings in Loews were worth $77,875,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Loews by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock valued at $2,045,759,000 after acquiring an additional 108,882 shares during the last quarter. Norges Bank acquired a new position in shares of Loews during the fourth quarter worth $577,279,000. Geode Capital Management LLC increased its position in shares of Loews by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after purchasing an additional 271,234 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Loews by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock valued at $419,581,000 after purchasing an additional 344,995 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Loews by 0.4% during the 3rd quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock worth $337,698,000 after buying an additional 12,311 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews has an average rating of “Strong Buy”.

Insider Buying and Selling

In related news, Director Dino Robusto purchased 5,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was bought at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares of the company’s stock, valued at $1,072,013.90. The trade was a 95.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 19.00% of the stock is currently owned by company insiders.

Loews Stock Down 0.2%

Shares of L stock opened at $119.17 on Thursday. The stock’s 50-day simple moving average is $111.34 and its 200-day simple moving average is $108.96. The firm has a market capitalization of $24.52 billion, a PE ratio of 15.14 and a beta of 0.52. Loews Corporation has a fifty-two week low of $89.32 and a fifty-two week high of $121.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio is presently 3.18%.

About Loews

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.