Ann Berman Sells 1,922 Shares of Loews (NYSE:L) Stock

Loews Corporation (NYSE:L) Director Ann Berman sold 1,922 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total transaction of $211,727.52. Following the sale, the director owned 4,998 shares of the company’s stock, valued at $550,579.68. This trade represents a 27.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Loews Stock Performance

NYSE:L opened at $110.02 on Friday. Loews Corporation has a 52-week low of $78.98 and a 52-week high of $114.90. The firm has a market cap of $22.67 billion, a price-to-earnings ratio of 13.79 and a beta of 0.61. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.35 and a current ratio of 0.36. The business’s fifty day moving average is $105.35 and its 200 day moving average is $101.33.

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

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors 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 yield of 0.2%. The ex-dividend date of this dividend is Wednesday, February 25th. Loews’s dividend payout ratio (DPR) is 3.13%.

Institutional Trading of Loews

A number of hedge funds have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. boosted its holdings in shares of Loews by 880.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after buying an additional 229 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Loews during the 2nd quarter valued at approximately $27,000. Harbor Capital Advisors Inc. acquired a new stake in Loews during the 4th quarter worth $27,000. Harbor Investment Advisory LLC acquired a new position in Loews during the fourth quarter worth $30,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Loews during the third quarter worth about $30,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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, Loews presently has an average rating of “Strong Buy”.

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.