Loews Co. (NYSE:L) Short Interest Down 6.2% in April

Loews Co. (NYSE:LGet Free Report) was the target of a large decline in short interest in April. As of April 30th, there was short interest totalling 1,810,000 shares, a decline of 6.2% from the April 15th total of 1,930,000 shares. Based on an average trading volume of 754,400 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.0% of the shares of the stock are short sold.

Loews Stock Performance

NYSE:L opened at $77.74 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $17.21 billion, a PE ratio of 11.53 and a beta of 0.82. The firm has a 50 day simple moving average of $76.41 and a 200-day simple moving average of $72.64. Loews has a 1-year low of $55.94 and a 1-year high of $78.55.

Loews (NYSE:LGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share for the quarter. The company had revenue of $4.23 billion for the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th will be issued a dividend of $0.0625 per share. The ex-dividend date is Wednesday, May 29th. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. Loews’s payout ratio is currently 3.71%.

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $77.39, for a total value of $3,869,500.00. Following the completion of the transaction, the insider now owns 607,799 shares in the company, valued at $47,037,564.61. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $77.39, for a total value of $3,869,500.00. Following the sale, the insider now owns 607,799 shares of the company’s stock, valued at approximately $47,037,564.61. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul J. Fribourg sold 951 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the transaction, the director now directly owns 21,200 shares of the company’s stock, valued at $1,590,424. The disclosure for this sale can be found here. Insiders have sold 150,951 shares of company stock valued at $11,659,844 in the last quarter. 18.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Loews

Institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new position in shares of Loews in the 4th quarter valued at about $26,000. Northwest Financial Advisors purchased a new position in shares of Loews in the 4th quarter valued at $28,000. NBC Securities Inc. acquired a new position in shares of Loews during the 3rd quarter valued at $29,000. Operose Advisors LLC purchased a new stake in Loews during the 3rd quarter worth $30,000. Finally, Desjardins Global Asset Management Inc. increased its holdings in Loews by 225.2% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 340 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Company Profile

(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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