Loews Co. (NYSE:L) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in Loews Co. (NYSE:L - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 851,655 shares of the insurance provider's stock after selling 13,701 shares during the quarter. California Public Employees Retirement System owned approximately 0.39% of Loews worth $72,127,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Miracle Mile Advisors LLC bought a new stake in shares of Loews in the 4th quarter valued at about $315,000. Nordea Investment Management AB boosted its position in Loews by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider's stock valued at $1,323,000 after acquiring an additional 1,085 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Loews by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider's stock valued at $109,067,000 after acquiring an additional 77,386 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Loews in the 4th quarter worth $440,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Loews during the 4th quarter worth $425,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Loews from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.

Insiders Place Their Bets

In related news, Director Jonathan M. Tisch sold 47,636 shares of Loews stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the sale, the director now owns 6,705,529 shares of the company's stock, valued at $569,165,301.52. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 151,327 shares of company stock valued at $12,851,055. Insiders own 18.70% of the company's stock.

Loews Stock Down 8.7 %

Shares of L stock traded down $7.95 during trading hours on Friday, reaching $83.16. 1,259,253 shares of the company's stock were exchanged, compared to its average volume of 723,181. Loews Co. has a fifty-two week low of $72.91 and a fifty-two week high of $92.42. The stock's 50 day moving average is $86.27 and its 200-day moving average is $83.80. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market cap of $17.70 billion, a price-to-earnings ratio of 12.99 and a beta of 0.80.

Loews (NYSE:L - Get Free Report) last announced its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews's dividend payout ratio (DPR) is presently 3.91%.

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.