Short Interest in Loews Co. (NYSE:L) Expands By 10.6%

Loews Co. (NYSE:L) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,880,000 shares, an increase of 10.6% from the March 15th total of 1,700,000 shares. Based on an average daily volume of 769,500 shares, the short-interest ratio is presently 2.4 days. Approximately 1.0% of the shares of the stock are short sold.

Loews Price Performance

Shares of NYSE:L opened at $73.31 on Wednesday. The company’s fifty day moving average price is $75.38 and its 200-day moving average price is $70.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $16.29 billion, a price-to-earnings ratio of 11.64 and a beta of 0.83. Loews has a one year low of $55.31 and a one year high of $78.55.

Loews (NYSE:L) last announced its earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%. The company had revenue of $4.26 billion during the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.0625 per share. The ex-dividend date was Tuesday, February 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.34%. Loews’s dividend payout ratio (DPR) is presently 3.97%.

Insider Buying and Selling at Loews

In other news, insider Jonathan M. Tisch sold 4,287 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the transaction, the insider now owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Andrew H. Tisch sold 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the transaction, the director now directly owns 945,886 shares in the company, valued at $69,087,513.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan M. Tisch sold 4,287 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total transaction of $308,278.17. Following the completion of the sale, the insider now directly owns 106,870 shares in the company, valued at $7,685,021.70. The disclosure for this sale can be found here. Insiders sold a total of 137,563 shares of company stock valued at $10,052,551 in the last three months. Company insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On Loews

A number of large investors have recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in Loews during the fourth quarter valued at about $26,000. Northwest Financial Advisors purchased a new stake in Loews during the 4th quarter valued at about $28,000. NBC Securities Inc. purchased a new stake in Loews during the 3rd quarter valued at about $29,000. West Tower Group LLC bought a new position in Loews during the 4th quarter worth approximately $29,000. Finally, Operose Advisors LLC purchased a new position in Loews in the 3rd quarter worth approximately $30,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

About Loews

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.