Teacher Retirement System of Texas Acquires 5,469 Shares of Loews Corporation $L

Teacher Retirement System of Texas raised its holdings in Loews Corporation (NYSE:L) by 14.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,058 shares of the insurance provider’s stock after purchasing an additional 5,469 shares during the quarter. Teacher Retirement System of Texas’ holdings in Loews were worth $4,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its stake in shares of Loews by 6.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,606 shares of the insurance provider’s stock worth $161,000 after acquiring an additional 104 shares during the period. Moody Lynn & Lieberson LLC boosted its holdings in Loews by 2.9% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 3,678 shares of the insurance provider’s stock worth $369,000 after buying an additional 105 shares during the period. Trustmark Bank Trust Department grew its stake in Loews by 0.7% in the 2nd quarter. Trustmark Bank Trust Department now owns 16,263 shares of the insurance provider’s stock valued at $1,491,000 after buying an additional 115 shares in the last quarter. Wedmont Private Capital raised its holdings in Loews by 3.8% during the 3rd quarter. Wedmont Private Capital now owns 3,291 shares of the insurance provider’s stock valued at $339,000 after acquiring an additional 120 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in shares of Loews by 0.5% during the third quarter. Exchange Traded Concepts LLC now owns 25,996 shares of the insurance provider’s stock worth $2,610,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has an average rating of “Strong Buy”.

Insiders Place Their Bets

In other news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $105.07, for a total transaction of $5,253,500.00. Following the sale, the director directly owned 12,909,642 shares of the company’s stock, valued at $1,356,416,084.94. This represents a 0.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter L. Harris sold 1,442 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $107.88, for a total transaction of $155,562.96. Following the sale, the director owned 24,594 shares in the company, valued at $2,653,200.72. This represents a 5.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 125,770 shares of company stock valued at $13,325,818. Insiders own 18.70% of the company’s stock.

Loews Trading Down 0.4%

NYSE L opened at $102.24 on Wednesday. Loews Corporation has a twelve month low of $78.98 and a twelve month high of $109.06. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $104.96 and its 200 day moving average is $100.05. The firm has a market capitalization of $21.13 billion, a PE ratio of 14.82 and a beta of 0.61.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. The firm had revenue of $4.67 billion during the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, November 26th. Loews’s payout ratio is currently 3.62%.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.