New York State Teachers Retirement System Has $10.04 Million Stock Position in Loews Co. (NYSE:L)

New York State Teachers Retirement System lessened its stake in Loews Co. (NYSE:L - Free Report) by 27.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,041 shares of the insurance provider's stock after selling 48,679 shares during the quarter. New York State Teachers Retirement System owned approximately 0.06% of Loews worth $10,043,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of Loews by 244.0% in the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider's stock valued at $28,000 after buying an additional 266 shares during the last quarter. Kimelman & Baird LLC acquired a new position in shares of Loews in the second quarter valued at $45,000. Family Firm Inc. acquired a new position in shares of Loews in the second quarter valued at $46,000. Eastern Bank bought a new position in shares of Loews in the third quarter valued at about $47,000. Finally, Innealta Capital LLC acquired a new stake in shares of Loews during the 2nd quarter worth about $51,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares of the company's stock, valued at $406,737.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now directly owns 4,998 shares of the company's stock, valued at approximately $406,737.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan M. Tisch sold 25,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the transaction, the insider now directly owns 461,395 shares of the company's stock, valued at $37,751,338.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,587 shares of company stock worth $7,186,460 in the last ninety days. 18.70% of the stock is owned by insiders.

Loews Price Performance

Shares of NYSE L traded down $2.76 during mid-day trading on Monday, reaching $76.51. The company had a trading volume of 1,004,721 shares, compared to its average volume of 709,223. The firm has a market cap of $16.80 billion, a price-to-earnings ratio of 11.71 and a beta of 0.82. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a one year low of $64.84 and a one year high of $83.54. The business's 50-day simple moving average is $79.70 and its 200 day simple moving average is $77.71.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were paid a $0.0625 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a yield of 0.33%. Loews's dividend payout ratio (DPR) is 3.66%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Royal Bank of Canada raised Loews to a "moderate buy" rating in a report on Friday, July 26th. Jefferies Financial Group dropped their price objective on shares of Loews from $115.00 to $112.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st.

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.