Short Interest in Loews Co. (NYSE:L) Expands By 10.6%

Loews Co. (NYSE:L) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,880,000 shares, an increase of 10.6% from the March 15th total of 1,700,000 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 769,500 shares, the short-interest ratio is presently 2.4 days.

Loews Stock Down 0.2 %

Shares of NYSE:L opened at $73.31 on Wednesday. The firm has a market cap of $16.29 billion, a P/E ratio of 11.64 and a beta of 0.83. Loews has a 12-month low of $55.31 and a 12-month high of $78.55. The business has a fifty day simple moving average of $75.38 and a 200 day simple moving average of $70.66. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48.

Loews (NYSE:L) last announced its earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%. The business had revenue of $4.26 billion for the quarter.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Tuesday, February 20th. Loews’s dividend payout ratio is 3.97%.

Insider Activity

In other Loews news, insider Jonathan M. Tisch sold 4,287 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $71.91, for a total transaction of $308,278.17. Following the completion of the transaction, the insider now owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Loews news, insider Jonathan M. Tisch sold 4,287 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total transaction of $308,278.17. Following the sale, the insider now owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew H. Tisch sold 125,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the transaction, the director now owns 945,886 shares of the company’s stock, valued at $69,087,513.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,563 shares of company stock worth $10,052,551. Insiders own 18.70% of the company’s stock.

Institutional Investors Weigh In On Loews

Hedge funds have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC grew its holdings in Loews by 9.9% in the first quarter. Sanders Morris Harris LLC now owns 5,494 shares of the insurance provider’s stock worth $430,000 after purchasing an additional 494 shares during the period. Park Avenue Securities LLC grew its stake in shares of Loews by 54.2% in the 1st quarter. Park Avenue Securities LLC now owns 4,780 shares of the insurance provider’s stock valued at $374,000 after buying an additional 1,680 shares during the period. Alaska Permanent Fund Corp increased its position in Loews by 13.7% in the 1st quarter. Alaska Permanent Fund Corp now owns 22,786 shares of the insurance provider’s stock valued at $1,784,000 after buying an additional 2,752 shares in the last quarter. Mather Group LLC. acquired a new position in Loews during the 1st quarter worth approximately $173,000. Finally, GAMMA Investing LLC boosted its holdings in Loews by 20.0% in the first quarter. GAMMA Investing LLC now owns 3,297 shares of the insurance provider’s stock worth $258,000 after acquiring an additional 549 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

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.