Loews (NYSE:L) VP Sells $383,995.65 in Stock

Loews Corporation (NYSE:L) VP Marc Alpert sold 3,495 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total value of $383,995.65. Following the completion of the sale, the vice president owned 16,325 shares of the company’s stock, valued at $1,793,627.75. This trade represents a 17.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Loews Stock Down 1.2%

L stock opened at $108.70 on Friday. Loews Corporation has a fifty-two week low of $78.98 and a fifty-two week high of $114.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.35. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 13.62 and a beta of 0.61. The business’s fifty day moving average price is $105.47 and its two-hundred day moving average price is $101.46.

Loews (NYSE:L) last announced its earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share (EPS) for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%. The company had revenue of $4.73 billion during the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, February 25th. Loews’s dividend payout ratio is presently 3.13%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has an average rating of “Strong Buy”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. increased its stake in shares of Loews by 880.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 229 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in Loews during the second quarter valued at $27,000. Harbor Capital Advisors Inc. bought a new position in Loews during the fourth quarter valued at $27,000. Harbor Investment Advisory LLC purchased a new stake in Loews in the fourth quarter worth $30,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Loews in the third quarter valued at $30,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

About Loews

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.