Optas LLC Has $758,000 Holdings in Loews Co. (NYSE:L)

Optas LLC trimmed its holdings in Loews Co. (NYSE:L) by 49.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,245 shares of the insurance provider’s stock after selling 8,041 shares during the period. Optas LLC’s holdings in Loews were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of L. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Loews in the fourth quarter valued at about $26,000. Minot DeBlois Advisors LLC bought a new stake in Loews in the 4th quarter valued at approximately $27,000. Itau Unibanco Holding S.A. lifted its stake in Loews by 387.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 345 shares in the last quarter. NBC Securities Inc. acquired a new position in Loews during the 1st quarter worth approximately $40,000. Finally, UMB Bank n.a. grew its stake in shares of Loews by 80.1% during the 1st quarter. UMB Bank n.a. now owns 470 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 209 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Richard Waldo Scott sold 9,019 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the transaction, the senior vice president now owns 33,901 shares in the company, valued at approximately $2,980,575.92. This trade represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 18.70% of the stock is owned by insiders.

Loews Price Performance

NYSE:L opened at $88.57 on Friday. The company has a market cap of $18.57 billion, a P/E ratio of 13.84 and a beta of 0.71. The firm’s fifty day moving average price is $87.29 and its two-hundred day moving average price is $86.02. Loews Co. has a one year low of $73.15 and a one year high of $92.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L) last posted its earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The company had revenue of $4.49 billion for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. Loews’s dividend payout ratio (DPR) is presently 4.11%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Loews from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

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.