Andrew Tisch Sells 50,000 Shares of Loews (NYSE:L) Stock

Loews Corporation (NYSE:L) Director Andrew Tisch sold 50,000 shares of Loews stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the sale, the director owned 12,480,400 shares of the company’s stock, valued at approximately $1,357,992,324. This trade represents a 0.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Loews Stock Performance

L traded down $0.41 during trading hours on Friday, hitting $108.02. The company’s stock had a trading volume of 467,036 shares, compared to its average volume of 661,808. Loews Corporation has a fifty-two week low of $78.98 and a fifty-two week high of $114.90. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $22.26 billion, a PE ratio of 13.54 and a beta of 0.60. The company has a 50-day simple moving average of $107.14 and a 200 day simple moving average of $103.62.

Loews (NYSE:L) last announced its earnings results on Monday, February 9th. The insurance provider reported $1.94 EPS for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%. The company had revenue of $4.73 billion during the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio is currently 3.13%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Loews has a consensus rating of “Strong Buy”.

Hedge Funds Weigh In On Loews

Several hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its stake in shares of Loews by 22.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock valued at $329,000 after acquiring an additional 658 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Loews by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after purchasing an additional 2,057 shares during the last quarter. Empowered Funds LLC lifted its position in Loews by 12.2% in the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock valued at $350,000 after acquiring an additional 414 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Loews by 37.5% during the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after acquiring an additional 4,071 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Loews by 116.4% in the second quarter. Allworth Financial LP now owns 1,266 shares of the insurance provider’s stock worth $116,000 after acquiring an additional 681 shares during the period. Institutional investors own 58.33% of the company’s stock.

Loews Company Profile

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.