Teacher Retirement System of Texas Sells 13,037 Shares of Loews Co. (NYSE:L)

Teacher Retirement System of Texas lessened its holdings in Loews Co. (NYSE:L - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,476 shares of the insurance provider's stock after selling 13,037 shares during the quarter. Teacher Retirement System of Texas' holdings in Loews were worth $8,509,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Venturi Wealth Management LLC lifted its stake in shares of Loews by 10.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider's stock worth $105,000 after acquiring an additional 119 shares during the period. Wedmont Private Capital increased its position in shares of Loews by 5.2% during the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider's stock worth $249,000 after buying an additional 151 shares during the period. Summit Trail Advisors LLC raised its stake in Loews by 2.6% during the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider's stock worth $477,000 after buying an additional 153 shares during the last quarter. Mather Group LLC. lifted its holdings in Loews by 7.7% in the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider's stock valued at $190,000 after buying an additional 161 shares during the period. Finally, Perigon Wealth Management LLC boosted its position in Loews by 5.9% during the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider's stock valued at $285,000 after acquiring an additional 183 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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Loews Stock Up 1.1 %

NYSE L traded up $1.03 on Thursday, hitting $91.54. 574,606 shares of the company were exchanged, compared to its average volume of 663,078. Loews Co. has a 12 month low of $72.91 and a 12 month high of $91.71. 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 $19.48 billion, a PE ratio of 14.30 and a beta of 0.80. The stock has a fifty day moving average of $85.58 and a 200-day moving average of $83.24.

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

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews's dividend payout ratio (DPR) is 3.91%.

Insider Transactions at Loews

In other Loews news, Director Jonathan M. Tisch sold 47,636 shares of Loews stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the transaction, the director now owns 6,705,529 shares of the company's stock, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following 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 158,860 shares of company stock valued at $13,486,463 over the last three months. Corporate insiders own 18.70% of the company's stock.

Analysts Set New Price Targets

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

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.