MML Investors Services LLC Increases Stock Position in Loews Co. (NYSE:L)

MML Investors Services LLC boosted its position in Loews Co. (NYSE:L) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,717 shares of the insurance provider’s stock after acquiring an additional 701 shares during the quarter. MML Investors Services LLC’s holdings in Loews were worth $847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Loews in the 3rd quarter worth about $40,000. Kimelman & Baird LLC purchased a new position in Loews in the second quarter valued at approximately $45,000. Family Firm Inc. acquired a new position in Loews during the second quarter valued at approximately $46,000. Eastern Bank purchased a new stake in Loews during the third quarter worth approximately $47,000. Finally, Innealta Capital LLC acquired a new stake in shares of Loews in the second quarter worth $51,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Performance

Loews stock opened at $83.19 on Friday. The firm has a market capitalization of $18.12 billion, a PE ratio of 11.05 and a beta of 0.83. Loews Co. has a one year low of $67.85 and a one year high of $87.45. The stock’s 50 day moving average price is $82.99 and its 200 day moving average price is $79.60. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. Loews’s dividend payout ratio (DPR) is presently 3.32%.

Insider Activity at Loews

In related news, Director Andrew H. Tisch sold 50,000 shares of Loews 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 in the company, valued at approximately $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles M. Diker sold 1,146 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the completion of the sale, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 126,146 shares of company stock valued at $10,499,507. Corporate insiders own 18.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Loews Company 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.