Key Points
- Loews Director James Tisch sold 196,280 shares for about $21.7 million at an average price of $110.57, reducing his direct stake by 6.53% to 2,809,389 shares.
- Loews reported quarterly EPS of $1.50 and revenue of $4.76 billion. It also declared a quarterly dividend of $0.0625 per share, equal to a 0.2% annualized yield.
- Analyst sentiment remains positive: Loews has a consensus Buy rating, although Weiss Ratings recently downgraded its rating from “buy (a-)” to “buy (b+).”
Loews Corporation (NYSE:L - Get Free Report) Director James Tisch sold 53,720 shares of Loews stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $110.07, for a total transaction of $5,912,960.40. Following the transaction, the director directly owned 11,955,472 shares of the company's stock, valued at $1,315,938,803.04. This represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Loews Price Performance
NYSE:L opened at $111.89 on Friday. The firm has a market cap of $22.63 billion, a PE ratio of 15.42 and a beta of 0.49. Loews Corporation has a 12 month low of $101.08 and a 12 month high of $121.01. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44. The company's 50-day moving average price is $108.80 and its two-hundred day moving average price is $109.70.
Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The insurance provider reported $1.50 earnings per share for the quarter. Loews had a net margin of 7.93% and a return on equity of 7.60%. The company had revenue of $4.76 billion during the quarter.
Loews Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Wednesday, November 25th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, November 25th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews's dividend payout ratio is 3.46%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Loews in the second quarter worth about $1,621,369,000. Legal & General Group Plc bought a new stake in shares of Loews during the second quarter valued at approximately $140,248,000. Bank of New York Mellon Corp bought a new stake in shares of Loews during the second quarter valued at approximately $107,461,000. Bank of America Corp DE bought a new stake in shares of Loews during the second quarter valued at approximately $79,560,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Loews in the second quarter valued at approximately $71,453,000. Institutional investors and hedge funds own 58.33% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings cut Loews from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat, Loews currently has an average rating of "Buy".
Get Our Latest Stock Report on L
About Loews
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
