Insider Selling: Loews Co. (NYSE:L) Insider Sells 4,287 Shares of Stock

Loews Co. (NYSE:LGet Free Report) insider Jonathan M. Tisch sold 4,287 shares of the firm’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 in the company, valued at approximately $7,685,021.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Loews Stock Performance

L opened at $72.75 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The company has a market cap of $16.17 billion, a price-to-earnings ratio of 11.55 and a beta of 0.82. Loews Co. has a 52-week low of $52.85 and a 52-week high of $75.24. The firm’s fifty day simple moving average is $70.82 and its two-hundred day simple moving average is $66.49.

Loews (NYSE:LGet Free Report) last posted its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter. The business had revenue of $4.26 billion for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Loews Dividend Announcement

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

Hedge Funds Weigh In On Loews

Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in Loews by 5.0% during the second quarter. JPMorgan Chase & Co. now owns 14,795,384 shares of the insurance provider’s stock worth $878,550,000 after purchasing an additional 699,593 shares during the last quarter. State Street Corp increased its position in Loews by 1.1% during the second quarter. State Street Corp now owns 8,427,667 shares of the insurance provider’s stock worth $500,435,000 after purchasing an additional 88,821 shares during the last quarter. Norges Bank acquired a new stake in Loews during the fourth quarter worth about $511,159,000. Geode Capital Management LLC increased its position in Loews by 1.3% during the first quarter. Geode Capital Management LLC now owns 4,064,740 shares of the insurance provider’s stock worth $235,292,000 after purchasing an additional 51,482 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Loews by 0.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,255,282 shares of the insurance provider’s stock worth $206,092,000 after purchasing an additional 20,277 shares during the last quarter. 54.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Royal Bank of Canada dropped their price target on shares of Loews from $174.00 to $170.00 and set an “outperform” rating on the stock in a research report on Thursday, November 16th.

Check Out Our Latest Research Report on Loews

Loews Company Profile

(Get Free Report)

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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.

See Also

Insider Buying and Selling by Quarter for Loews (NYSE:L)

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