Retirement Systems of Alabama Sells 1,468 Shares of Loews Co. (NYSE:L)

Retirement Systems of Alabama trimmed its holdings in Loews Co. (NYSE:L) by 3.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 40,345 shares of the insurance provider’s stock after selling 1,468 shares during the period. Retirement Systems of Alabama’s holdings in Loews were worth $2,808,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. acquired a new stake in shares of Loews in the 3rd quarter valued at approximately $29,000. Operose Advisors LLC acquired a new position in Loews during the 3rd quarter worth approximately $30,000. Desjardins Global Asset Management Inc. lifted its stake in Loews by 225.2% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 340 shares during the last quarter. Lindbrook Capital LLC boosted its position in Loews by 41.4% in the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock valued at $43,000 after buying an additional 179 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Loews during the fourth quarter worth $200,000. Institutional investors own 58.33% of the company’s stock.

Loews Stock Up 0.1 %

Shares of NYSE:L opened at $77.81 on Wednesday. Loews Co. has a 52-week low of $55.94 and a 52-week high of $78.55. The company has a market capitalization of $17.29 billion, a PE ratio of 12.35 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.32 and a current ratio of 0.32. The company has a fifty day moving average of $76.01 and a 200-day moving average of $71.97.

Loews (NYSE:L) last issued its earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. The business had revenue of $4.23 billion during the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Insider Activity

In related news, SVP Richard Waldo Scott sold 7,325 shares of Loews stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $74.12, for a total transaction of $542,929.00. Following the sale, the senior vice president now directly owns 51,965 shares in the company, valued at approximately $3,851,645.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Loews news, Director Andrew H. Tisch sold 125,000 shares of the company’s stock in a transaction dated 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 owns 945,886 shares in the company, valued at approximately $69,087,513.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard Waldo Scott sold 7,325 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $74.12, for a total value of $542,929.00. Following the transaction, the senior vice president now owns 51,965 shares of the company’s stock, valued at $3,851,645.80. The disclosure for this sale can be found here. Insiders sold 137,563 shares of company stock valued at $10,052,551 over the last quarter. 18.70% of the stock is owned by company insiders.

About Loews

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.