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

Loews Corporation (NYSE:L) Director Andrew Tisch sold 50,000 shares of Loews stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $110.27, for a total transaction of $5,513,500.00. Following the completion of the transaction, the director directly owned 12,859,642 shares of the company’s stock, valued at approximately $1,418,032,723.34. This represents a 0.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Loews Stock Performance

Shares of NYSE L traded up $1.58 during midday trading on Tuesday, hitting $110.36. The company’s stock had a trading volume of 770,722 shares, compared to its average volume of 759,026. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a 1-year low of $78.98 and a 1-year high of $114.90. The firm’s fifty day moving average price is $105.61 and its 200-day moving average price is $101.73. The firm has a market cap of $22.74 billion, a P/E ratio of 13.83 and a beta of 0.61.

Loews (NYSE:L) last issued its 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 company had revenue of $4.73 billion during the quarter.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be issued a $0.0625 dividend. 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 is 3.13%.

Analysts Set New Price Targets

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

Institutional Trading of Loews

Several hedge funds and other institutional investors have recently bought and sold shares of L. Norges Bank bought a new position in shares of Loews during the second quarter worth approximately $665,658,000. Goldman Sachs Group Inc. raised its holdings in Loews by 32.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock valued at $340,986,000 after acquiring an additional 786,381 shares in the last quarter. Danske Bank A S bought a new stake in shares of Loews during the 3rd quarter valued at $35,724,000. 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. Finally, Geode Capital Management LLC lifted its position in Loews by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after purchasing an additional 271,234 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

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.