New York State Common Retirement Fund Trims Stock Position in Loews Co. (NYSE:L)

New York State Common Retirement Fund trimmed its stake in Loews Co. (NYSE:L - Free Report) by 8.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 76,845 shares of the insurance provider's stock after selling 7,000 shares during the period. New York State Common Retirement Fund's holdings in Loews were worth $6,508,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Loews by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider's stock valued at $127,409,000 after acquiring an additional 8,615 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Loews in the fourth quarter valued at approximately $315,000. Intech Investment Management LLC increased its stake in Loews by 8.0% during the 3rd quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider's stock worth $10,875,000 after buying an additional 10,213 shares during the period. Swedbank AB lifted its holdings in Loews by 8.8% during the 3rd quarter. Swedbank AB now owns 379,647 shares of the insurance provider's stock worth $30,011,000 after buying an additional 30,600 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Loews by 47.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider's stock valued at $2,950,000 after buying an additional 12,070 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the sale, the director now owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew H. Tisch sold 7,533 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now directly owns 1,568,191 shares of the company's stock, valued at $132,276,910.85. The trade was a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,370 shares of company stock worth $5,309,627 over the last 90 days. 18.70% of the stock is owned by insiders.

Loews Stock Up 0.9 %

Shares of L stock traded up $0.77 during trading hours on Friday, reaching $86.56. 1,075,986 shares of the stock were exchanged, compared to its average volume of 716,541. The business's fifty day moving average is $84.60 and its two-hundred day moving average is $82.44. The firm has a market capitalization of $18.43 billion, a P/E ratio of 13.53 and a beta of 0.83. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

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

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Wednesday, February 26th. Loews's dividend payout ratio (DPR) is presently 3.91%.

Loews Company 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.