Short Interest in Loews Co. (NYSE:L) Rises By 9.9%

Loews Co. (NYSE:L) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 1,780,000 shares, an increase of 9.9% from the December 15th total of 1,620,000 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 750,600 shares, the short-interest ratio is currently 2.4 days.

Insider Activity at Loews

In other Loews news, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now owns 19,906 shares of the company’s stock, valued at $1,728,437.98. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,679 shares of company stock valued at $11,134,916 in the last ninety days. Insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On Loews

Several institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Loews during the 3rd quarter worth approximately $40,000. Kimelman & Baird LLC purchased a new stake in shares of Loews in the second quarter valued at approximately $45,000. Eastern Bank acquired a new position in Loews during the third quarter worth $47,000. Wilmington Savings Fund Society FSB purchased a new position in Loews in the third quarter worth $49,000. Finally, Quest Partners LLC acquired a new stake in Loews in the third quarter valued at $129,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Loews Stock Performance

Loews stock traded up $0.19 during mid-day trading on Monday, reaching $86.27. 553,974 shares of the company were exchanged, compared to its average volume of 754,034. The firm has a market cap of $18.79 billion, a PE ratio of 11.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The firm’s 50-day simple moving average is $84.42 and its two-hundred day simple moving average is $80.91. Loews has a twelve month low of $70.59 and a twelve month high of $87.45.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were given a $0.0625 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. Loews’s dividend payout ratio (DPR) is 3.32%.

About Loews

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 standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.