California State Teachers Retirement System Trims Holdings in Loews Corporation (L)

California State Teachers Retirement System lessened its position in Loews Corporation (NYSE:L) by 8.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 528,288 shares of the insurance provider’s stock after selling 46,684 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Loews Corporation worth $24,730,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Loews Corporation by 4.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,894 shares of the insurance provider’s stock valued at $229,000 after purchasing an additional 189 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Loews Corporation by 12.0% in the second quarter. The Manufacturers Life Insurance Company now owns 328,551 shares of the insurance provider’s stock valued at $15,380,000 after purchasing an additional 35,074 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Loews Corporation by 41.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,028,165 shares of the insurance provider’s stock valued at $48,128,000 after purchasing an additional 300,479 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Loews Corporation by 304.6% in the second quarter. Cubist Systematic Strategies LLC now owns 35,356 shares of the insurance provider’s stock valued at $1,655,000 after purchasing an additional 26,618 shares in the last quarter. Finally, Sciencast Management LP bought a new position in shares of Loews Corporation in the second quarter valued at approximately $322,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on L. Zacks Investment Research upgraded Loews Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub lowered Loews Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $39.00.

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Shares of Loews Corporation (NYSE:L) opened at 48.85 on Monday. Loews Corporation has a one year low of $40.73 and a one year high of $49.58. The company has a market capitalization of $16.44 billion, a price-to-earnings ratio of 14.44 and a beta of 0.71. The company’s 50-day moving average price is $47.54 and its 200-day moving average price is $47.31.

Loews Corporation (NYSE:L) last released its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. The firm had revenue of $3.36 billion for the quarter. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. During the same period in the previous year, the company earned $0.59 earnings per share. On average, equities research analysts predict that Loews Corporation will post $3.05 earnings per share for the current year.

About Loews Corporation

Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.

Institutional Ownership by Quarter for Loews Corporation (NYSE:L)

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