Loews (NYSE:L) Director James Tisch Sells 53,720 Shares of Company Stock

Loews Corporation (NYSE:L) Director James Tisch sold 53,720 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $110.07, for a total transaction of $5,912,960.40. Following the completion of the sale, the director owned 11,955,472 shares in the company, valued at $1,315,938,803.04. This represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Loews Stock Up 0.3%

Shares of L opened at $111.89 on Friday. The company has a 50-day simple moving average of $108.80 and a 200-day simple moving average of $109.70. The firm has a market capitalization of $22.63 billion, a P/E ratio of 15.42 and a beta of 0.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a 52 week low of $101.08 and a 52 week high of $121.01.

Loews (NYSE:L) last released its earnings results on Monday, November 2nd. The insurance provider reported $1.50 earnings per share for the quarter. Loews had a return on equity of 7.60% and a net margin of 7.93%. The business had revenue of $4.76 billion for the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Wednesday, November 25th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, November 25th. Loews’s dividend payout ratio (DPR) is presently 3.46%.

Institutional Trading of Loews

Institutional investors have recently made changes to their positions in the business. AlphaGrep UK Ltd lifted its stake in Loews by 43.8% during the third quarter. AlphaGrep UK Ltd now owns 4,878 shares of the insurance provider’s stock worth $509,000 after purchasing an additional 1,485 shares during the period. Meeder Advisory Services Inc. boosted its holdings in Loews by 12.6% during the third quarter. Meeder Advisory Services Inc. now owns 6,665 shares of the insurance provider’s stock valued at $696,000 after purchasing an additional 748 shares in the last quarter. DiPaolo Financial Group Inc. bought a new stake in shares of Loews in the 3rd quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Loews by 301.4% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 208 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its holdings in shares of Loews by 76.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 43,680 shares of the insurance provider’s stock worth $4,562,000 after buying an additional 18,936 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, November 3rd. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Loews Company Profile

Loews Corporation is a diversified holding company with businesses in insurance, energy infrastructure and hospitality. Its subsidiaries operate independently, while Loews provides corporate oversight and capital allocation. CNA Financial provides commercial property and casualty insurance, along with related services, to businesses and organizations. Boardwalk Pipelines operates natural gas pipeline and storage infrastructure, primarily in the United States. Loews Hotels & Co owns and operates hotels and resorts, principally in North America.