Illinois Municipal Retirement Fund Cuts Position in Loews Co. (NYSE:L)

Illinois Municipal Retirement Fund decreased its position in Loews Co. (NYSE:L) by 41.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,551 shares of the insurance provider’s stock after selling 48,607 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Loews were worth $4,701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in Loews in the third quarter valued at approximately $29,000. Operose Advisors LLC purchased a new stake in shares of Loews during the third quarter worth $30,000. Desjardins Global Asset Management Inc. increased its position in shares of Loews by 225.2% during the fourth 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 period. Lindbrook Capital LLC increased its position in shares of Loews by 41.4% during the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 179 shares during the period. Finally, Washington Trust Advisors Inc. purchased a new stake in shares of Loews during the third quarter worth $51,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Activity at Loews

In related news, Director Paul J. Fribourg sold 951 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the transaction, the director now owns 21,200 shares of the company’s stock, valued at $1,590,424. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Paul J. Fribourg sold 951 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the transaction, the director now owns 21,200 shares of the company’s stock, valued at $1,590,424. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Tisch sold 4,287 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total transaction of $308,278.17. Following the completion of the transaction, the insider now owns 106,870 shares of the company’s stock, valued at approximately $7,685,021.70. The disclosure for this sale can be found here. Insiders have sold 137,563 shares of company stock valued at $10,052,551 over the last quarter. 18.70% of the stock is owned by insiders.

Loews Stock Up 0.1 %

Loews stock opened at $76.81 on Thursday. Loews Co. has a twelve month low of $55.31 and a twelve month high of $78.55. The stock’s fifty day simple moving average is $75.69 and its 200-day simple moving average is $71.15. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $17.07 billion, a P/E ratio of 12.19 and a beta of 0.83.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%. The business had revenue of $4.26 billion for the quarter.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Tuesday, February 20th. Loews’s dividend payout ratio (DPR) is presently 3.97%.

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.