Optas LLC Has $610,000 Stock Position in Loews Corporation $L

Optas LLC reduced its position in shares of Loews Corporation (NYSE:L) by 19.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,652 shares of the insurance provider’s stock after selling 1,593 shares during the quarter. Optas LLC’s holdings in Loews were worth $610,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in L. Wayfinding Financial LLC bought a new stake in Loews during the 1st quarter worth approximately $25,000. Sierra Ocean LLC increased its holdings in Loews by 805.9% during the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Elequin Capital LP bought a new stake in Loews during the 1st quarter worth approximately $30,000. Zions Bancorporation National Association UT bought a new stake in Loews during the 1st quarter worth approximately $33,000. Finally, NBC Securities Inc. bought a new stake in Loews during the 1st quarter worth approximately $40,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Price Performance

Shares of NYSE L opened at $103.01 on Thursday. The stock has a fifty day simple moving average of $96.81 and a two-hundred day simple moving average of $91.47. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $103.47. The firm has a market cap of $21.37 billion, a price-to-earnings ratio of 16.38 and a beta of 0.73. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The business had revenue of $4.56 billion during the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, August 20th. Loews’s dividend payout ratio (DPR) is 3.97%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Loews in a report on Wednesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

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.