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

by · The Cerbat Gem

Optas LLC boosted its holdings in shares of Loews Co. (NYSE:L – Free Report) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,935 shares of the insurance provider’s stock after acquiring an additional 320 shares during the quarter. Optas LLC’s holdings in Loews were worth $552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new position in shares of Loews during the third quarter worth $29,000. Operose Advisors LLC purchased a new position in shares of Loews during the third quarter worth $30,000. Eagle Bay Advisors LLC purchased a new position in Loews in the second quarter valued at $36,000. Rockefeller Capital Management L.P. boosted its holdings in Loews by 40.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 705 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 202 shares during the period. Finally, Washington Trust Advisors Inc. purchased a new position in Loews in the third quarter valued at $51,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Down 1.5 %

Loews stock traded down $1.13 during midday trading on Tuesday, reaching $74.93. The company’s stock had a trading volume of 252,679 shares, compared to its average volume of 760,206. Loews Co. has a fifty-two week low of $55.31 and a fifty-two week high of $78.55. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The company has a market cap of $16.65 billion, a P/E ratio of 12.07 and a beta of 0.83. The business has a 50-day simple moving average of $75.24 and a 200-day simple moving average of $70.24.

Loews (NYSE:L – Get Free Report) last posted its earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%. The business had revenue of $4.26 billion for the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Wednesday, February 21st were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Tuesday, February 20th. Loews’s dividend payout ratio is presently 3.97%.

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 4,287 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $71.91, for a total transaction of $308,278.17. Following the completion of the transaction, the insider now directly owns 106,870 shares of the company’s stock, valued at approximately $7,685,021.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total transaction of $542,929.00. Following the sale, the senior vice president now owns 51,965 shares in the company, valued at approximately $3,851,645.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan M. Tisch sold 4,287 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the sale, the insider now owns 106,870 shares in the company, valued at approximately $7,685,021.70. The disclosure for this sale can be found here. In the last three months, insiders sold 137,563 shares of company stock valued at $10,052,551. Corporate insiders own 18.30% of the company’s stock.

Loews Profile

(Free Report)

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.

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