Louisiana State Employees Retirement System Trims Holdings in Loews Co. (NYSE:L)

Louisiana State Employees Retirement System decreased its stake in shares of Loews Co. (NYSE:L) by 2.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,300 shares of the insurance provider’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Loews were worth $770,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Loews during the 4th quarter valued at $3,695,000. CWM LLC grew its position in Loews by 15.9% during the fourth quarter. CWM LLC now owns 2,814 shares of the insurance provider’s stock worth $196,000 after buying an additional 386 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Loews by 15.9% in the 4th quarter. Russell Investments Group Ltd. now owns 116,377 shares of the insurance provider’s stock worth $8,097,000 after acquiring an additional 15,968 shares during the last quarter. Savant Capital LLC raised its holdings in shares of Loews by 6.1% in the 4th quarter. Savant Capital LLC now owns 7,087 shares of the insurance provider’s stock valued at $493,000 after acquiring an additional 405 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in shares of Loews by 18.1% during the 4th quarter. First Trust Direct Indexing L.P. now owns 4,361 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 668 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on L. Jefferies Financial Group dropped their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a report on Friday, July 26th.

Insider Buying and Selling at Loews

In other news, VP Mark S. Schwartz sold 2,628 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $80.88, for a total value of $212,552.64. Following the completion of the sale, the vice president now owns 14,933 shares of the company’s stock, valued at approximately $1,207,781.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Loews news, VP Mark S. Schwartz sold 2,628 shares of Loews stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $80.88, for a total value of $212,552.64. Following the transaction, the vice president now directly owns 14,933 shares of the company’s stock, valued at approximately $1,207,781.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan C. Locker acquired 6,200 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were bought at an average cost of $80.63 per share, with a total value of $499,906.00. Following the purchase, the director now owns 23,068 shares of the company’s stock, valued at approximately $1,859,972.84. The disclosure for this purchase can be found here. Company insiders own 18.70% of the company’s stock.

Loews Stock Performance

Shares of NYSE L opened at $81.68 on Friday. The stock’s 50-day moving average is $77.55 and its 200 day moving average is $76.34. The stock has a market cap of $18.08 billion, a price-to-earnings ratio of 12.12 and a beta of 0.83. Loews Co. has a 1-year low of $61.29 and a 1-year high of $83.54. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 EPS for the quarter. The business had revenue of $4.27 billion for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.25 annualized dividend and a yield of 0.31%. Loews’s payout ratio is 3.71%.

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.