Loews Co. (NYSE:L) Holdings Raised by MML Investors Services LLC

MML Investors Services LLC increased its position in shares of Loews Co. (NYSE:L) by 7.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,717 shares of the insurance provider’s stock after purchasing an additional 701 shares during the period. MML Investors Services LLC’s holdings in Loews were worth $847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in Loews by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after purchasing an additional 8,615 shares during the period. Intech Investment Management LLC lifted its stake in Loews by 8.0% in the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock valued at $10,875,000 after buying an additional 10,213 shares during the last quarter. Swedbank AB boosted its holdings in shares of Loews by 8.8% during the third quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock valued at $30,011,000 after acquiring an additional 30,600 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Loews by 47.8% during the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock worth $2,950,000 after acquiring an additional 12,070 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Loews by 35.5% in the 3rd quarter. Citigroup Inc. now owns 266,850 shares of the insurance provider’s stock worth $21,094,000 after acquiring an additional 69,896 shares during the period. Institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Loews Trading Up 1.9 %

NYSE:L opened at $83.19 on Friday. The stock has a market cap of $18.12 billion, a price-to-earnings ratio of 11.05 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a 1 year low of $67.85 and a 1 year high of $87.45. The business has a fifty day moving average of $82.99 and a 200-day moving average of $79.60.

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 dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.30%. Loews’s payout ratio is 3.32%.

Insiders Place Their Bets

In other news, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now directly owns 19,906 shares in the company, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the sale, the director now owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. This trade represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,146 shares of company stock worth $10,499,507. 18.70% of the stock is owned by corporate insiders.

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.