Loews Corporation $L Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in shares of Loews Corporation (NYSE:L) by 1.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 37,346 shares of the insurance provider’s stock after selling 619 shares during the period. Retirement Systems of Alabama’s holdings in Loews were worth $3,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of Loews during the first quarter worth about $25,000. Elequin Capital LP acquired a new position in Loews in the first quarter valued at approximately $30,000. Zions Bancorporation National Association UT acquired a new position in Loews in the first quarter valued at approximately $33,000. Hantz Financial Services Inc. boosted its holdings in Loews by 14,900.0% in the second quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 447 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in Loews in the second quarter valued at approximately $60,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Loews in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Loews Price Performance

L stock opened at $100.64 on Wednesday. The company has a market capitalization of $20.88 billion, a P/E ratio of 16.00 and a beta of 0.73. Loews Corporation has a twelve month low of $76.33 and a twelve month high of $103.52. The business has a 50 day simple moving average of $98.90 and a 200-day simple moving average of $93.29. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. The business had revenue of $4.67 billion during the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

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.