New York State Teachers Retirement System Has $8.22 Million Stock Position in Loews Co. (NYSE:L)

New York State Teachers Retirement System lessened its stake in Loews Co. (NYSE:L) by 23.6% in the fourth quarter, Holdings Channel reports. The firm owned 97,030 shares of the insurance provider’s stock after selling 30,011 shares during the quarter. New York State Teachers Retirement System’s holdings in Loews were worth $8,217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wedmont Private Capital raised its holdings in shares of Loews by 5.2% during the 4th quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock worth $249,000 after buying an additional 151 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Loews by 2.6% in the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock worth $477,000 after acquiring an additional 153 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Loews by 7.7% in the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after purchasing an additional 161 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Loews by 5.9% during the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 183 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in Loews by 5.2% during the 3rd quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock worth $298,000 after purchasing an additional 187 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Loews Price Performance

Loews stock opened at $83.42 on Wednesday. The company has a market capitalization of $17.76 billion, a PE ratio of 11.08 and a beta of 0.83. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $84.46 and a two-hundred day moving average price of $82.03. Loews Co. has a 12 month low of $72.91 and a 12 month high of $88.29.

Loews (NYSE:L) last posted its earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.30%. The ex-dividend date is Wednesday, February 26th. Loews’s payout ratio is presently 3.91%.

Insider Buying and Selling at Loews

In related news, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the sale, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders have sold 12,370 shares of company stock worth $1,055,627. Insiders own 18.70% of the company’s stock.

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.