Arizona State Retirement System Purchases 278 Shares of Loews Co. (NYSE:L)

Arizona State Retirement System increased its position in Loews Co. (NYSE:L) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,196 shares of the insurance provider’s stock after purchasing an additional 278 shares during the period. Arizona State Retirement System’s holdings in Loews were worth $4,590,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp lifted its stake in Loews by 1.0% during the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after acquiring an additional 82,581 shares in the last quarter. Geode Capital Management LLC lifted its stake in Loews by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock valued at $336,005,000 after acquiring an additional 53,428 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Loews by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock worth $268,640,000 after purchasing an additional 8,750 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Loews by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider’s stock worth $137,477,000 after purchasing an additional 11,540 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Loews by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock worth $109,067,000 after purchasing an additional 77,386 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Up 0.5 %

L stock opened at $85.35 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $18.17 billion, a PE ratio of 13.34 and a beta of 0.80. Loews Co. has a twelve month low of $72.91 and a twelve month high of $88.29. The stock has a 50-day simple moving average of $84.70 and a two-hundred day simple moving average of $82.69.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Wednesday, February 26th. Loews’s payout ratio is 3.91%.

Insider Transactions at Loews

In other Loews news, Director Andrew H. Tisch sold 7,533 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now owns 1,568,191 shares in the company, valued at approximately $132,276,910.85. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,224 shares of company stock valued at $5,210,120. 18.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

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.