Loews Co. (NYSE:L) Shares Bought by Optas LLC

Optas LLC grew its holdings in shares of Loews Co. (NYSE:L) by 101.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,286 shares of the insurance provider’s stock after acquiring an additional 8,200 shares during the period. Optas LLC’s holdings in Loews were worth $1,379,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in Loews during the 3rd quarter worth $40,000. Eastern Bank acquired a new position in Loews in the third quarter worth about $47,000. Wilmington Savings Fund Society FSB acquired a new position in Loews in the third quarter worth about $49,000. Quest Partners LLC acquired a new position in Loews in the third quarter worth about $129,000. Finally, Blue Trust Inc. grew its position in shares of Loews by 240.5% in the 3rd quarter. Blue Trust Inc. now owns 2,360 shares of the insurance provider’s stock worth $176,000 after acquiring an additional 1,667 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

Shares of NYSE L opened at $85.31 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $84.73 and its two-hundred day moving average price is $81.57. Loews Co. has a 52-week low of $71.52 and a 52-week high of $87.45. The stock has a market capitalization of $18.58 billion, a P/E ratio of 11.33 and a beta of 0.83.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.82 earnings per share (EPS) for the quarter. The business had revenue of $4.47 billion for the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Wednesday, November 27th. Loews’s payout ratio is 3.32%.

Insider Activity

In other news, Director Andrew H. Tisch sold 75,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total value of $6,237,000.00. Following the sale, the director now owns 12,089,677 shares of the company’s stock, valued at approximately $1,005,377,539.32. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles M. Diker sold 1,146 shares of the business’s 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 completion of the sale, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,679 shares of company stock valued at $11,134,916. Insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Loews 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.