California Public Employees Retirement System Has $24.27 Million Stock Position in Loews Co. (NYSE:L)

California Public Employees Retirement System reduced its position in Loews Co. (NYSE:L) by 2.5% in the 4th quarter, HoldingsChannel reports. The firm owned 348,800 shares of the insurance provider’s stock after selling 9,042 shares during the period. California Public Employees Retirement System’s holdings in Loews were worth $24,273,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. CWM LLC lifted its stake in Loews by 15.9% in the 4th quarter. CWM LLC now owns 2,814 shares of the insurance provider’s stock valued at $196,000 after purchasing an additional 386 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Loews by 4.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,892 shares of the insurance provider’s stock worth $1,106,000 after acquiring an additional 623 shares during the last quarter. Lindbrook Capital LLC lifted its position in Loews by 41.4% during the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 179 shares during the last quarter. abrdn plc lifted its position in Loews by 66.0% during the fourth quarter. abrdn plc now owns 77,633 shares of the insurance provider’s stock worth $5,402,000 after acquiring an additional 30,875 shares during the last quarter. Finally, Greenleaf Trust lifted its position in Loews by 3.6% during the fourth quarter. Greenleaf Trust now owns 9,320 shares of the insurance provider’s stock worth $649,000 after acquiring an additional 326 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Trading Down 1.2 %

Shares of L stock opened at $75.46 on Monday. The firm has a 50 day moving average price of $75.74 and a two-hundred day moving average price of $71.37. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $16.77 billion, a PE ratio of 11.98 and a beta of 0.83. Loews Co. has a 12-month low of $55.64 and a 12-month high of $78.55.

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. The firm had revenue of $4.26 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Loews Announces Dividend

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

Insider Activity at Loews

In related news, Director Andrew H. Tisch sold 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total value of $9,130,000.00. Following the completion of the sale, the director now directly owns 945,886 shares in the company, valued at $69,087,513.44. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Jonathan M. Tisch sold 4,287 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $71.91, for a total transaction of $308,278.17. Following the sale, the insider now directly owns 106,870 shares of the company’s stock, valued at approximately $7,685,021.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total value of $9,130,000.00. Following the sale, the director now directly owns 945,886 shares in the company, valued at $69,087,513.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,563 shares of company stock worth $10,052,551. Company insiders own 18.70% of the company’s stock.

Loews 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.