Optas LLC Increases Stock Holdings in Loews Co. (NYSE:L)

Optas LLC raised its holdings in shares of Loews Co. (NYSE:L - Free Report) by 101.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,286 shares of the insurance provider's stock after purchasing an additional 8,200 shares during the period. Optas LLC's holdings in Loews were worth $1,379,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC acquired a new stake in shares of Loews during the fourth quarter worth about $315,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Loews by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider's stock worth $127,409,000 after purchasing an additional 8,615 shares during the last quarter. Intech Investment Management LLC lifted its position in Loews by 8.0% during the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider's stock valued at $10,875,000 after purchasing an additional 10,213 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Loews by 47.8% in the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider's stock valued at $2,950,000 after purchasing an additional 12,070 shares during the last quarter. Finally, Swedbank AB grew its position in Loews by 8.8% during the 3rd quarter. Swedbank AB now owns 379,647 shares of the insurance provider's stock worth $30,011,000 after purchasing an additional 30,600 shares during the period. Institutional investors own 58.33% of the company's stock.

Loews Price Performance

Shares of Loews stock traded up $0.49 during mid-day trading on Thursday, reaching $86.77. 621,074 shares of the stock traded hands, compared to its average volume of 651,732. The stock has a market capitalization of $18.90 billion, a PE ratio of 11.52 and a beta of 0.83. The business has a 50-day moving average of $84.69 and a 200 day moving average of $81.69. Loews Co. has a fifty-two week low of $71.52 and a fifty-two week high of $87.45. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48.

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

Loews Dividend Announcement

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

Insiders Place Their Bets

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the transaction, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. The trade was a 0.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles M. Diker sold 1,146 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the transaction, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. This trade 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.

Analyst Ratings Changes

Separately, StockNews.com downgraded Loews from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 20th.

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.