Key Points
- Director Andrew Tisch sold 50,000 shares on Feb. 12 at an average price of $110.27 for a total of $5,513,500, reducing his ownership by about 0.39% while still holding 12,859,642 shares valued at roughly $1.418 billion.
- Dividend announced: Loews declared a quarterly dividend of $0.0625 per share ($0.25 annualized, ~0.2% yield) payable March 10 to holders of record on February 25 (ex-dividend Feb. 25).
- Recent results and valuation: Loews reported $1.94 EPS and $4.73 billion in quarterly revenue, with a market cap of $22.74 billion and a trailing P/E of 13.83.
Loews Corporation (NYSE:L - Get Free Report) Director Andrew Tisch sold 50,000 shares of the firm's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $110.27, for a total value of $5,513,500.00. Following the completion of the sale, the director directly owned 12,859,642 shares in the company, valued at approximately $1,418,032,723.34. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Loews Price Performance
NYSE L opened at $110.36 on Wednesday. The stock has a 50-day simple moving average of $105.77 and a 200 day simple moving average of $101.88. Loews Corporation has a twelve month low of $78.98 and a twelve month high of $114.90. The stock has a market capitalization of $22.74 billion, a PE ratio of 13.83 and a beta of 0.61. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36.
Loews (NYSE:L - Get Free Report) last issued its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.94 EPS for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.The company had revenue of $4.73 billion for the quarter.
Loews Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, February 25th. Loews's dividend payout ratio is presently 3.13%.
Hedge Funds Weigh In On Loews
A number of hedge funds have recently made changes to their positions in the business. Hancock Whitney Corp boosted its position in shares of Loews by 3.9% during the 3rd quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider's stock valued at $263,000 after acquiring an additional 98 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Loews by 0.3% during the fourth quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider's stock worth $3,356,000 after purchasing an additional 100 shares during the period. Versant Capital Management Inc boosted its holdings in Loews by 6.9% during the third quarter. Versant Capital Management Inc now owns 1,606 shares of the insurance provider's stock valued at $161,000 after purchasing an additional 104 shares in the last quarter. Moody Lynn & Lieberson LLC boosted its holdings in Loews by 2.9% during the third quarter. Moody Lynn & Lieberson LLC now owns 3,678 shares of the insurance provider's stock valued at $369,000 after purchasing an additional 105 shares in the last quarter. Finally, Independent Advisor Alliance grew its stake in shares of Loews by 4.3% in the 4th quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider's stock valued at $274,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "buy (a-)" rating on shares of Loews in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Strong Buy".
Check Out Our Latest Stock Analysis on L
About Loews
(
Get Free Report)
Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.
One of Loews' principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.
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