Loews Co. (NYSE:L) Sees Significant Decrease in Short Interest

Loews Co. (NYSE:L) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 2,110,000 shares, a drop of 18.2% from the March 31st total of 2,580,000 shares. Based on an average daily volume of 922,200 shares, the short-interest ratio is currently 2.3 days. Approximately 0.9% of the company’s shares are short sold.

L stock traded up $0.44 during midday trading on Tuesday, hitting $57.48. The company’s stock had a trading volume of 932,627 shares, compared to its average volume of 872,168. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.56. Loews has a 52-week low of $27.33 and a 52-week high of $57.57. The firm has a market capitalization of $15.35 billion, a P/E ratio of -14.63 and a beta of 0.90. The firm has a 50-day simple moving average of $53.51 and a 200-day simple moving average of $46.66.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, February 8th. The insurance provider reported $1.60 earnings per share (EPS) for the quarter. Loews had a positive return on equity of 3.16% and a negative net margin of 8.71%. The business had revenue of $3.71 billion for the quarter.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 9th. Shareholders of record on Wednesday, February 24th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Tuesday, February 23rd.

In other Loews news, SVP Richard Waldo Scott sold 6,378 shares of Loews stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $51.34, for a total value of $327,446.52. Following the completion of the transaction, the senior vice president now directly owns 45,151 shares of the company’s stock, valued at approximately $2,318,052.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan M. Tisch sold 4,469 shares of the business’s stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $48.34, for a total transaction of $216,031.46. Following the sale, the insider now owns 9,397 shares in the company, valued at $454,250.98. The disclosure for this sale can be found here. Insiders have sold a total of 11,017 shares of company stock valued at $551,878 in the last ninety days. 15.20% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in L. Perigon Wealth Management LLC acquired a new stake in shares of Loews in the 4th quarter valued at $27,000. Childress Capital Advisors LLC purchased a new stake in Loews during the 4th quarter worth about $36,000. First Mercantile Trust Co. boosted its position in shares of Loews by 206.3% during the 4th quarter. First Mercantile Trust Co. now owns 824 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 555 shares in the last quarter. Addison Advisors LLC acquired a new position in Loews in the fourth quarter valued at approximately $54,000. Finally, Tacita Capital Inc acquired a new position in Loews in the fourth quarter valued at approximately $101,000. Institutional investors and hedge funds own 57.36% of the company’s stock.

Loews Company Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include property, marine, and boiler and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.

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