Key Points
- Director Andrew Tisch sold 50,000 shares of Loews at an average price of $105.07 (about $5.25 million) on Dec. 15, a 0.39% reduction that leaves him with 12,909,642 shares valued at roughly $1.356 billion, per an SEC filing.
- Loews has a market cap of $21.91 billion and a P/E of 15.36, reported quarterly EPS of $2.43 on $4.67 billion in revenue, and pays a small quarterly dividend of $0.0625 ($0.25 annualized, ~0.2% yield) with a 3.62% payout ratio.
- Institutional and analyst sentiment remains positive: Norges Bank initiated a large ~$665.7 million stake, institutions own about 58.33% of the shares, and Weiss Ratings reiterated a "buy (A-)" while MarketBeat shows an average "Strong Buy" rating.
Loews Corporation (NYSE:L - Get Free Report) Director Andrew Tisch sold 50,000 shares of the business's stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $105.07, for a total transaction of $5,253,500.00. Following the completion of the transaction, the director owned 12,909,642 shares of the company's stock, valued at $1,356,416,084.94. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Loews Stock Up 2.0%
NYSE L opened at $106.01 on Thursday. The stock has a market capitalization of $21.91 billion, a P/E ratio of 15.36 and a beta of 0.62. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $109.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a fifty day moving average of $102.90 and a 200-day moving average of $96.98.
Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. The business had revenue of $4.67 billion for the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.
Loews Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, November 26th. Loews's payout ratio is currently 3.62%.
Institutional Trading of Loews
A number of large investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Loews during the 2nd quarter valued at about $665,658,000. Danske Bank A S acquired a new stake in Loews during the 3rd quarter worth approximately $35,724,000. Dark Forest Capital Management LP raised its holdings in Loews by 582.8% during the 3rd quarter. Dark Forest Capital Management LP now owns 221,212 shares of the insurance provider's stock worth $22,207,000 after buying an additional 188,812 shares during the period. Amundi lifted its stake in Loews by 41.6% in the third quarter. Amundi now owns 610,657 shares of the insurance provider's stock valued at $62,513,000 after buying an additional 179,383 shares in the last quarter. Finally, Swedbank AB boosted its holdings in shares of Loews by 44.8% in the first quarter. Swedbank AB now owns 556,350 shares of the insurance provider's stock valued at $51,134,000 after buying an additional 172,004 shares during the period. Institutional investors own 58.33% of the company's stock.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a "buy (a-)" rating on shares of Loews in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews presently has an average rating of "Strong Buy".
Check Out Our Latest Report on L
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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