Jonathan M. Tisch Sells 4,469 Shares of Loews Co. (NYSE:L) Stock

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Loews Co. (NYSE:L) insider Jonathan M. Tisch sold 4,469 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $54.04, for a total transaction of $241,504.76. Following the completion of the sale, the insider now owns 9,556 shares of the company’s stock, valued at approximately $516,406.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

NYSE:L opened at $54.19 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $15.56 billion, a price-to-earnings ratio of 17.71 and a beta of 0.64. Loews Co. has a 52 week low of $46.29 and a 52 week high of $56.88. The firm has a 50-day moving average price of $52.36 and a two-hundred day moving average price of $50.89.

Loews (NYSE:L) last released its earnings results on Monday, February 10th. The insurance provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Loews had a net margin of 6.24% and a return on equity of 4.88%. The firm had revenue of $3.88 billion during the quarter. During the same period in the prior year, the company earned ($0.28) earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 26th 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 0.46%. The ex-dividend date of this dividend is Tuesday, February 25th. Loews’s dividend payout ratio is currently 7.00%.

L has been the subject of several analyst reports. TheStreet upgraded shares of Loews from a “c+” rating to a “b-” rating in a research note on Thursday, January 30th. TD Securities decreased their price objective on shares of Loews from $82.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.50.

Institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in Loews by 35.9% in the 3rd quarter. First Trust Advisors LP now owns 164,986 shares of the insurance provider’s stock worth $8,493,000 after buying an additional 43,570 shares during the period. BlackRock Inc. boosted its holdings in Loews by 3.8% in the 2nd quarter. BlackRock Inc. now owns 19,005,207 shares of the insurance provider’s stock worth $1,039,014,000 after buying an additional 700,123 shares during the period. First Allied Advisory Services Inc. boosted its holdings in Loews by 16.0% in the 3rd quarter. First Allied Advisory Services Inc. now owns 6,419 shares of the insurance provider’s stock worth $331,000 after buying an additional 885 shares during the period. California Public Employees Retirement System boosted its holdings in Loews by 7.6% in the 3rd quarter. California Public Employees Retirement System now owns 2,260,660 shares of the insurance provider’s stock worth $116,379,000 after buying an additional 160,381 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in Loews by 0.4% in the 3rd quarter. California State Teachers Retirement System now owns 505,691 shares of the insurance provider’s stock worth $26,033,000 after buying an additional 1,981 shares during the period. 61.55% of the stock is owned by hedge funds and other institutional investors.

Loews Company Profile

Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.

See Also: What is meant by buying and selling pressure?

Insider Buying and Selling by Quarter for Loews (NYSE:L)

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