Loews Co. (NYSE:L) Short Interest Up 24.8% in June

Loews Co. (NYSE:L) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 1,810,000 shares, a growth of 24.8% from the May 31st total of 1,450,000 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average trading volume of 731,800 shares, the short-interest ratio is currently 2.5 days.

Insider Buying and Selling

In related news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $77.24, for a total transaction of $3,862,000.00. Following the completion of the transaction, the insider now owns 507,799 shares of the company’s stock, valued at approximately $39,222,394.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 150,000 shares of company stock valued at $11,588,500 over the last quarter. Corporate insiders own 18.70% of the company’s stock.

Institutional Trading of Loews

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in shares of Loews by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock valued at $110,496,000 after purchasing an additional 21,323 shares in the last quarter. Principal Financial Group Inc. increased its stake in Loews by 12.8% in the 4th quarter. Principal Financial Group Inc. now owns 242,163 shares of the insurance provider’s stock worth $16,852,000 after acquiring an additional 27,498 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in Loews by 70.5% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 14,753 shares of the insurance provider’s stock worth $1,027,000 after acquiring an additional 6,101 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Loews by 3.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 297,181 shares of the insurance provider’s stock worth $20,681,000 after acquiring an additional 10,473 shares in the last quarter. Finally, SteelPeak Wealth LLC purchased a new position in shares of Loews in the fourth quarter valued at $1,909,000. Institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of Loews stock traded down $0.52 during trading hours on Friday, reaching $74.74. 1,171,320 shares of the stock traded hands, compared to its average volume of 847,609. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of 11.09 and a beta of 0.85. The company has a 50 day moving average price of $75.93 and a 200 day moving average price of $74.32. Loews has a one year low of $58.21 and a one year high of $78.55.

Loews (NYSE:L) last announced its earnings results on Monday, May 6th. The insurance provider reported $2.05 EPS for the quarter. The company had revenue of $4.23 billion for the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were given a $0.0625 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $0.25 annualized dividend and a dividend yield of 0.33%. Loews’s payout ratio is 3.71%.

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.