Loews (NYSE:L) Director Sells $5,513,500.00 in Stock

Loews Corporation (NYSE:L) Director Andrew Tisch sold 50,000 shares of Loews stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $110.27, for a total transaction of $5,513,500.00. Following the completion of the transaction, the director directly owned 12,859,642 shares in the company, valued at $1,418,032,723.34. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Loews Stock Down 0.3%

Shares of NYSE:L opened at $108.37 on Friday. Loews Corporation has a 1-year low of $78.98 and a 1-year high of $114.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $22.33 billion, a P/E ratio of 13.58 and a beta of 0.61. The firm has a fifty day moving average price of $105.97 and a 200 day moving average price of $101.97.

Loews (NYSE:L) last released its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share (EPS) for the quarter. The firm had revenue of $4.73 billion for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, February 25th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio is presently 3.13%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Hedge Funds Weigh In On Loews

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CPC Advisors LLC acquired a new position in shares of Loews during the third quarter worth approximately $6,568,000. Swedbank AB raised its stake in Loews by 9.7% during the 3rd quarter. Swedbank AB now owns 443,106 shares of the insurance provider’s stock valued at $44,483,000 after acquiring an additional 39,313 shares in the last quarter. Assetmark Inc. boosted its position in Loews by 182.2% during the 2nd quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock worth $180,000 after acquiring an additional 1,270 shares during the period. Rakuten Investment Management Inc. bought a new position in shares of Loews in the third quarter worth $3,827,000. Finally, Caprock Group LLC bought a new position in shares of Loews in the third quarter worth $2,748,000. 58.33% of the stock is owned by institutional investors and hedge funds.

About Loews

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.