Retirement Systems of Alabama Has $2.81 Million Stake in Loews Co. (NYSE:L)

Retirement Systems of Alabama trimmed its stake in Loews Co. (NYSE:L) by 3.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,345 shares of the insurance provider’s stock after selling 1,468 shares during the period. Retirement Systems of Alabama’s holdings in Loews were worth $2,808,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in shares of Loews in the third quarter valued at approximately $29,000. Operose Advisors LLC bought a new position in Loews in the 3rd quarter worth $30,000. Desjardins Global Asset Management Inc. lifted its position in Loews by 225.2% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 340 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Loews by 41.4% during the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 179 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of Loews in the fourth quarter valued at about $200,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total value of $542,929.00. Following the completion of the sale, the senior vice president now owns 51,965 shares in the company, valued at approximately $3,851,645.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jonathan M. Tisch sold 4,287 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the sale, the insider now owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Richard Waldo Scott sold 7,325 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $74.12, for a total transaction of $542,929.00. Following the transaction, the senior vice president now owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The disclosure for this sale can be found here. Insiders have sold 137,563 shares of company stock worth $10,052,551 in the last ninety days. Insiders own 18.70% of the company’s stock.

Loews Trading Up 0.1 %

Loews stock opened at $77.81 on Wednesday. The business’s 50-day simple moving average is $76.01 and its 200-day simple moving average is $71.97. Loews Co. has a 52 week low of $55.94 and a 52 week high of $78.55. The firm has a market capitalization of $17.29 billion, a PE ratio of 12.35 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.32 and a current ratio of 0.32.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 EPS for the quarter. The company had revenue of $4.23 billion during the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

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.