Insider Selling: Loews (NYSE:L) Director Sells 50,000 Shares of Stock

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

Loews Stock Performance

NYSE L traded down $0.41 on Friday, hitting $108.02. 467,036 shares of the company’s stock were exchanged, compared to its average volume of 661,808. The firm’s 50-day moving average price is $107.14 and its two-hundred day moving average price is $103.62. The firm has a market cap of $22.26 billion, a price-to-earnings ratio of 13.54 and a beta of 0.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a fifty-two week low of $78.98 and a fifty-two week high of $114.90.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.94 EPS 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 Dividend Announcement

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

Institutional Trading of Loews

Several large investors have recently added to or reduced their stakes in the business. Hancock Whitney Corp increased its position in Loews by 3.9% in the 3rd quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider’s stock worth $263,000 after buying an additional 98 shares during the period. IFM Investors Pty Ltd grew its holdings in Loews by 0.3% during the 4th quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider’s stock worth $3,356,000 after acquiring an additional 100 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Loews by 6.9% during the third quarter. Versant Capital Management Inc now owns 1,606 shares of the insurance provider’s stock worth $161,000 after acquiring an additional 104 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its holdings in Loews by 2.9% in the third quarter. Moody Lynn & Lieberson LLC now owns 3,678 shares of the insurance provider’s stock valued at $369,000 after buying an additional 105 shares during the period. Finally, Independent Advisor Alliance grew its position in shares of Loews by 4.3% during the 4th quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider’s stock worth $274,000 after buying an additional 107 shares during the period. 58.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research report 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”.

Loews Company Profile

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.