Texas Permanent School Fund Trims Stock Position in Loews Co. (NYSE:L)

Texas Permanent School Fund reduced its stake in shares of Loews Co. (NYSE:L – Get Rating) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,999 shares of the insurance provider’s stock after selling 298 shares during the quarter. Texas Permanent School Fund’s holdings in Loews were worth $1,633,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. grew its position in shares of Loews by 416.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 496 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 400 shares during the period. CI Investments Inc. increased its stake in shares of Loews by 61.8% in the 3rd quarter. CI Investments Inc. now owns 626 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 239 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Loews in the 2nd quarter valued at about $36,000. Ronald Blue Trust Inc. increased its stake in shares of Loews by 165.1% in the 4th quarter. Ronald Blue Trust Inc. now owns 835 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 520 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Loews by 97.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 845 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 418 shares in the last quarter. 64.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Loews

In related news, Director Philip A. Laskawy sold 625 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $60.96, for a total transaction of $38,100.00. Following the completion of the sale, the director now directly owns 7,365 shares in the company, valued at $448,970.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Loews news, major shareholder Corp Loews bought 34,996 shares of the business’s stock in a transaction on Monday, May 1st. The stock was bought at an average price of $38.93 per share, with a total value of $1,362,394.28. Following the completion of the purchase, the insider now directly owns 243,918,659 shares in the company, valued at $9,495,753,394.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip A. Laskawy sold 625 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $60.96, for a total value of $38,100.00. Following the sale, the director now directly owns 7,365 shares of the company’s stock, valued at approximately $448,970.40. The disclosure for this sale can be found here. Insiders own 18.30% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Loews in a research report on Thursday, March 16th. They set a “buy” rating for the company.

Loews Price Performance

Shares of Loews stock opened at $58.51 on Friday. The business has a 50 day simple moving average of $57.00 and a two-hundred day simple moving average of $58.00. The stock has a market capitalization of $13.33 billion, a P/E ratio of 13.27 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.32 and a quick ratio of 0.32. Loews Co. has a 12 month low of $49.36 and a 12 month high of $66.34.

Loews (NYSE:L – Get Rating) last issued its earnings results on Monday, May 1st. The insurance provider reported $1.61 EPS for the quarter. The business had revenue of $3.78 billion during the quarter. Loews had a net margin of 7.27% and a return on equity of 7.68%.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Wednesday, May 24th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $0.25 annualized dividend and a dividend yield of 0.43%. Loews’s dividend payout ratio is presently 5.67%.

Loews Profile

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Loews Corp. is a holding company, which engages in the business of commercial property and casualty insurance, transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. It operates through the following segments: CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation, and Corporate.