Insider Selling: Loews (NYSE:L) Director Sells 196,280 Shares of Stock

Loews Corporation (NYSE:L) Director James Tisch sold 196,280 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $110.57, for a total transaction of $21,702,679.60. Following the transaction, the director owned 2,809,389 shares in the company, valued at $310,634,141.73. This represents a 6.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Loews Stock Up 0.3%

L traded up $0.38 on Thursday, hitting $111.89. The company had a trading volume of 441,323 shares, compared to its average volume of 786,746. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a 52-week low of $101.08 and a 52-week high of $121.01. The stock has a fifty day simple moving average of $108.74 and a 200-day simple moving average of $109.66. The firm has a market capitalization of $22.63 billion, a P/E ratio of 15.48 and a beta of 0.49.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, November 2nd. The insurance provider reported $1.50 earnings per share for the quarter. Loews had a return on equity of 7.60% and a net margin of 7.93%. The business had revenue of $4.76 billion for the quarter.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Wednesday, November 25th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, November 25th. Loews’s dividend payout ratio (DPR) is presently 3.46%.

Institutional Trading of Loews

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Loews during the 2nd quarter valued at about $1,621,369,000. Legal & General Group Plc purchased a new stake in Loews in the second quarter worth about $140,248,000. Bank of New York Mellon Corp bought a new position in shares of Loews during the second quarter valued at approximately $107,461,000. Bank of America Corp DE bought a new position in shares of Loews during the second quarter valued at approximately $79,560,000. Finally, Hsbc Holdings PLC bought a new position in shares of Loews during the second quarter valued at approximately $71,453,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, November 3rd. One analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Loews Company Profile

Loews Corporation is a diversified holding company with businesses in insurance, energy infrastructure and hospitality. Its subsidiaries operate independently, while Loews provides corporate oversight and capital allocation. CNA Financial provides commercial property and casualty insurance, along with related services, to businesses and organizations. Boardwalk Pipelines operates natural gas pipeline and storage infrastructure, primarily in the United States. Loews Hotels & Co owns and operates hotels and resorts, principally in North America.