Insider Selling: Loews Co. (NYSE:L) Director Sells $4,163,000.00 in Stock

Loews Co. (NYSE:L) Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the transaction, the director now owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. This trade represents a 0.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Loews Price Performance

Shares of L opened at $83.67 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The company’s fifty day moving average price is $79.83 and its 200-day moving average price is $78.13. Loews Co. has a 1-year low of $66.60 and a 1-year high of $84.56. The firm has a market capitalization of $18.22 billion, a PE ratio of 11.11 and a beta of 0.82.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.0625 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.30%. Loews’s payout ratio is presently 3.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research report on Friday, July 26th. StockNews.com raised Loews from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group cut their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of L. Geode Capital Management LLC raised its holdings in shares of Loews by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after purchasing an additional 53,428 shares during the last quarter. M&T Bank Corp grew its position in Loews by 0.8% during the 3rd quarter. M&T Bank Corp now owns 46,677 shares of the insurance provider’s stock worth $3,690,000 after purchasing an additional 377 shares during the period. Barclays PLC raised its stake in shares of Loews by 13.1% during the 3rd quarter. Barclays PLC now owns 752,380 shares of the insurance provider’s stock valued at $59,473,000 after buying an additional 87,259 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Loews by 1.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 55,785 shares of the insurance provider’s stock valued at $4,410,000 after buying an additional 556 shares during the period. Finally, MML Investors Services LLC boosted its stake in shares of Loews by 7.0% in the third quarter. MML Investors Services LLC now owns 10,717 shares of the insurance provider’s stock worth $847,000 after buying an additional 701 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

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 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.