Public Employees Retirement System of Ohio Has $5.89 Million Stock Position in Loews Co. (NYSE:L)

Public Employees Retirement System of Ohio lessened its stake in Loews Co. (NYSE:L) by 8.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 74,502 shares of the insurance provider’s stock after selling 6,667 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Loews were worth $5,889,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cetera Advisors LLC bought a new position in shares of Loews during the first quarter worth about $339,000. Sequoia Financial Advisors LLC boosted its position in Loews by 6.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock worth $239,000 after acquiring an additional 186 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Loews by 7.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,652 shares of the insurance provider’s stock worth $871,000 after acquiring an additional 851 shares in the last quarter. Swedbank AB raised its holdings in shares of Loews by 15.6% in the second quarter. Swedbank AB now owns 349,047 shares of the insurance provider’s stock valued at $26,088,000 after purchasing an additional 47,013 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Loews by 11.5% in the second quarter. Assenagon Asset Management S.A. now owns 142,125 shares of the insurance provider’s stock worth $10,622,000 after purchasing an additional 14,660 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles M. Diker sold 1,146 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the sale, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 75,000 shares of Loews stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the transaction, the director now directly owns 12,089,677 shares of the company’s stock, valued at approximately $1,005,377,539.32. This trade represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,146 shares of company stock worth $10,499,507. Insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Loews Stock Performance

Shares of NYSE L opened at $84.19 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a 50 day moving average price of $82.50 and a 200 day moving average price of $79.34. The stock has a market capitalization of $18.33 billion, a PE ratio of 11.18 and a beta of 0.83. Loews Co. has a 52 week low of $67.20 and a 52 week high of $87.45.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. Loews’s dividend payout ratio is presently 3.32%.

About Loews

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.