Andrew Tisch Sells 50,000 Shares of Loews (NYSE:L) Stock

Loews Corporation (NYSE:L) Director Andrew Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total value of $5,440,500.00. Following the sale, the director owned 12,480,400 shares of the company’s stock, valued at approximately $1,357,992,324. This represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Loews Price Performance

Loews stock opened at $108.02 on Friday. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 13.54 and a beta of 0.60. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $114.90. The stock’s 50 day moving average is $107.14 and its 200-day moving average is $103.68.

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

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is currently 3.13%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Institutional Investors Weigh In On Loews

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Loews in the 2nd quarter valued at $665,658,000. Goldman Sachs Group Inc. grew its holdings in shares of Loews by 32.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock worth $340,986,000 after purchasing an additional 786,381 shares in the last quarter. Caisse de depot et placement du Quebec grew its holdings in shares of Loews by 819.0% during the 4th quarter. Caisse de depot et placement du Quebec now owns 448,032 shares of the insurance provider’s stock worth $47,182,000 after purchasing an additional 399,281 shares in the last quarter. Danske Bank A S bought a new position in shares of Loews in the third quarter worth $35,724,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Loews by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock worth $419,581,000 after purchasing an additional 344,995 shares during the period. 58.33% of the stock is currently owned by 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.