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

Teacher Retirement System of Texas lifted its holdings in Loews Corporation (NYSE:L) by 14.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 43,058 shares of the insurance provider’s stock after acquiring 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 SEC filing.

A number of other hedge funds have also recently made changes to their positions in L. SJS Investment Consulting Inc. lifted its position in Loews by 880.8% during the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 229 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Loews in the second quarter valued at approximately $27,000. NewSquare Capital LLC increased its stake in shares of Loews by 404.1% in the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 295 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Loews by 14,900.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock valued at $41,000 after buying an additional 447 shares during the last quarter. Finally, MTM Investment Management LLC purchased a new position in Loews during the second quarter valued at approximately $41,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Strong Buy”.

Insider Buying and Selling

In related news, Director Ann E. Berman sold 1,444 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $108.10, for a total transaction of $156,096.40. Following the sale, the director directly owned 6,686 shares in the company, valued at approximately $722,756.60. This represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter L. Harris sold 1,442 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $107.88, for a total transaction of $155,562.96. Following the completion of the sale, the director directly owned 24,594 shares in the company, valued at approximately $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. Insiders have sold 125,770 shares of company stock worth $13,325,818 over the last ninety days. Company insiders own 18.70% of the company’s stock.

Loews Trading Down 0.4%

Shares of Loews stock opened at $102.24 on Wednesday. The stock has a 50 day moving average of $104.96 and a 200 day moving average of $100.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market capitalization of $21.13 billion, a price-to-earnings ratio of 14.82 and a beta of 0.61. Loews Corporation has a fifty-two week low of $78.98 and a fifty-two week high of $109.06.

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

Loews Dividend Announcement

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. The ex-dividend date was Wednesday, November 26th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio is 3.62%.

About Loews

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.