Key Points
- Loews director Walter Harris sold 1,442 shares on Dec. 1 at an average price of $107.88 for $155,562.96, trimming his stake by 5.54% to 24,594 shares valued at about $2.65 million.
- Dividend announced: Loews will pay a quarterly dividend of $0.0625 per share (annualized $0.25, ~0.2% yield) with a record and ex-dividend date of Nov. 26 and payment on Dec. 9.
- Company fundamentals and sentiment: Loews has a market cap of ~$21.97 billion and a P/E of 16.9, reported quarterly EPS of $2.43 on $4.67 billion revenue, and carries a Weiss Ratings "buy (a-)" with an average MarketBeat rating of "Strong Buy."
Loews Corporation (NYSE:L - Get Free Report) Director Walter Harris sold 1,442 shares of the business's stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $107.88, for a total value of $155,562.96. Following the transaction, the director owned 24,594 shares of the company's stock, valued at approximately $2,653,200.72. The trade was a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Loews Stock Performance
NYSE:L opened at $106.32 on Wednesday. Loews Corporation has a twelve month low of $78.98 and a twelve month high of $109.06. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. The stock has a market cap of $21.97 billion, a P/E ratio of 16.90 and a beta of 0.61. The business's 50-day moving average price is $102.24 and its two-hundred day moving average price is $95.84.
Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. The company had revenue of $4.67 billion for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.
Loews Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Loews's payout ratio is currently 3.62%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a "buy (a-)" rating on shares of Loews in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Strong Buy".
Read Our Latest Stock Analysis on Loews
Institutional Trading of Loews
Several institutional investors have recently added to or reduced their stakes in L. SJS Investment Consulting Inc. increased its holdings in shares of Loews by 880.8% in the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider's stock worth $26,000 after buying an additional 229 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Loews during the 2nd quarter valued at about $27,000. Elequin Capital LP bought a new position in Loews during the 1st quarter worth approximately $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Loews in the 3rd quarter worth approximately $30,000. Finally, Zions Bancorporation National Association UT bought a new stake in Loews in the first quarter valued at approximately $33,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.
About Loews
(
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 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.
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