Loews Co. (NYSE:L) Short Interest Update

Loews Co. (NYSE:L) saw a significant increase in short interest in the month of 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. Based on an average daily trading volume, of 750,600 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.0% of the company’s stock are short sold.

Loews Price Performance

NYSE:L traded up $0.19 during trading hours on Monday, reaching $86.27. 553,974 shares of the company were exchanged, compared to its average volume of 754,034. The stock’s 50-day moving average is $84.42 and its 200-day moving average is $80.91. Loews has a twelve month low of $70.59 and a twelve month high of $87.45. 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 current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s dividend payout ratio is presently 3.32%.

Insider Activity at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the transaction, the director now owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. The trade was a 0.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the completion of the sale, the director now owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,679 shares of company stock valued at $11,134,916 over the last ninety days. 18.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wedmont Private Capital grew its holdings in shares of Loews by 5.2% in the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 151 shares during the period. Summit Trail Advisors LLC increased its holdings in shares of Loews by 2.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock worth $477,000 after buying an additional 153 shares during the last quarter. Atomi Financial Group Inc. raised its position in shares of Loews by 4.3% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider’s stock valued at $325,000 after buying an additional 169 shares during the period. Ballentine Partners LLC lifted its holdings in Loews by 5.2% in the third quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock valued at $298,000 after acquiring an additional 187 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its position in Loews by 5.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 3,568 shares of the insurance provider’s stock worth $302,000 after acquiring an additional 196 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

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.