California State Teachers Retirement System increased its stake in shares of Loews Co. (NYSE:L) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 537,155 shares of the insurance provider’s stock after buying an additional 3,865 shares during the period. California State Teachers Retirement System’s holdings in Loews were worth $24,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its position in Loews by 4,728.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,401,027 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 3,330,590 shares during the period. BlackRock Inc. lifted its position in Loews by 4.1% during the 4th quarter. BlackRock Inc. now owns 18,932,642 shares of the insurance provider’s stock valued at $861,813,000 after purchasing an additional 739,962 shares during the period. California Public Employees Retirement System lifted its position in Loews by 33.4% during the 4th quarter. California Public Employees Retirement System now owns 1,610,859 shares of the insurance provider’s stock valued at $73,326,000 after purchasing an additional 403,256 shares during the period. Bank of New York Mellon Corp lifted its position in Loews by 18.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,478,852 shares of the insurance provider’s stock valued at $112,837,000 after purchasing an additional 393,140 shares during the period. Finally, Citigroup Inc. lifted its position in Loews by 517.6% during the 4th quarter. Citigroup Inc. now owns 441,255 shares of the insurance provider’s stock valued at $20,086,000 after purchasing an additional 369,807 shares during the period. Institutional investors and hedge funds own 63.21% of the company’s stock.

In related news, insider Andrew H. Tisch sold 22,916 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $45.10, for a total transaction of $1,033,511.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David B. Edelson sold 18,073 shares of the stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $45.70, for a total value of $825,936.10. Following the sale, the chief financial officer now directly owns 17,501 shares of the company’s stock, valued at $799,795.70. The disclosure for this sale can be found here. Insiders sold a total of 69,743 shares of company stock worth $3,211,308 over the last quarter. 12.30% of the stock is currently owned by corporate insiders.

Shares of NYSE:L opened at $47.89 on Friday. The company has a market capitalization of $14.81 billion, a P/E ratio of 16.86 and a beta of 0.66. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.33 and a current ratio of 0.33. Loews Co. has a fifty-two week low of $42.06 and a fifty-two week high of $53.04.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 11th. The insurance provider reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($1.06). The firm had revenue of $3.29 billion during the quarter. Loews had a net margin of 4.52% and a return on equity of 4.16%. During the same quarter last year, the company earned $0.81 EPS. On average, analysts forecast that Loews Co. will post 3.2 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 27th were given a $0.0625 dividend. The ex-dividend date was Tuesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.52%. Loews’s dividend payout ratio is 8.80%.

A number of research analysts have issued reports on L shares. CIBC restated an “average” rating and set a $70.00 target price on shares of Loews in a research report on Thursday, November 15th. Scotiabank restated an “average” rating and set a $68.00 target price on shares of Loews in a research report on Friday, February 22nd. Barclays restated an “average” rating and set a $72.00 target price on shares of Loews in a research report on Thursday, February 21st. Finally, Zacks Investment Research downgraded shares of Loews from a “hold” rating to a “sell” rating in a research report on Thursday, January 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $59.24.

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About Loews

Loews Corp. is a holding company, which engages in the oil and gas business. It operates through the following segments: CNA Financial, Diamond Offshore, Boardwalk Pipeline, Loews Hotels and Corporate. The CNA Financial segment offers property, casualty, insurance, and underwriting services. The Diamond Offshore segment manages drilling rigs.

Read More: Return on Equity (ROE)

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Institutional Ownership by Quarter for Loews (NYSE:L)

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