Loews (NYSE:L) Director Sells $5,253,500.00 in Stock

Loews Corporation (NYSE:L) Director Andrew Tisch sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $105.07, for a total value of $5,253,500.00. Following the transaction, the director owned 12,909,642 shares in the company, valued at $1,356,416,084.94. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Loews Stock Up 2.0%

Shares of NYSE:L traded up $2.05 during trading on Wednesday, hitting $106.01. The stock had a trading volume of 875,020 shares, compared to its average volume of 791,150. The company has a market capitalization of $21.91 billion, a PE ratio of 15.36 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average is $102.84 and its 200 day moving average is $96.92. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $109.06.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. The business had revenue of $4.67 billion during the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, November 26th. Loews’s dividend payout ratio (DPR) is 3.62%.

Hedge Funds Weigh In On Loews

A number of hedge funds have recently bought and sold shares of the company. SJS Investment Consulting Inc. increased its stake in Loews by 880.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 229 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Loews during the second quarter valued at approximately $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Loews during the third quarter valued at approximately $30,000. NewSquare Capital LLC increased its position in shares of Loews by 404.1% during the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 295 shares in the last quarter. Finally, Westside Investment Management Inc. raised its holdings in Loews by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Loews currently has an average rating of “Strong Buy”.

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.