Loews Corporation (NYSE:L) Short Interest Update

Loews Corporation (NYSE:L) was the target of a large increase in short interest in December. As of December 15th, there was short interest totaling 2,734,049 shares, an increase of 28.7% from the November 30th total of 2,123,683 shares. Based on an average trading volume of 958,959 shares, the short-interest ratio is currently 2.9 days. Approximately 1.6% of the company’s stock are sold short. Approximately 1.6% of the company’s stock are sold short. Based on an average trading volume of 958,959 shares, the short-interest ratio is currently 2.9 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has an average rating of “Strong Buy”.

Insiders Place Their Bets

In related news, Director Walter L. Harris sold 1,442 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $107.88, for a total transaction of $155,562.96. Following the completion of the sale, the director directly owned 24,594 shares in the company, valued at approximately $2,653,200.72. This trade represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $105.07, for a total value of $5,253,500.00. Following the completion of the transaction, the director owned 12,909,642 shares in the company, valued at $1,356,416,084.94. This trade represents a 0.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 125,770 shares of company stock valued at $13,325,818 in the last three months. Company insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On Loews

A number of institutional investors have recently bought and sold shares of L. Norges Bank acquired a new stake in shares of Loews during the second quarter worth $665,658,000. Danske Bank A S bought a new position in Loews during the third quarter worth about $35,724,000. Dark Forest Capital Management LP increased its position in Loews by 582.8% during the third quarter. Dark Forest Capital Management LP now owns 221,212 shares of the insurance provider’s stock worth $22,207,000 after acquiring an additional 188,812 shares during the period. Amundi raised its stake in Loews by 41.6% in the 3rd quarter. Amundi now owns 610,657 shares of the insurance provider’s stock worth $62,513,000 after purchasing an additional 179,383 shares in the last quarter. Finally, Swedbank AB boosted its holdings in Loews by 44.8% in the 1st quarter. Swedbank AB now owns 556,350 shares of the insurance provider’s stock valued at $51,134,000 after purchasing an additional 172,004 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Price Performance

Shares of NYSE L opened at $106.18 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.35 and a quick ratio of 0.35. The business has a 50-day moving average of $104.07 and a 200-day moving average of $98.18. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 15.39 and a beta of 0.62. Loews has a fifty-two week low of $78.98 and a fifty-two week high of $109.06.

Loews (NYSE:L) last released its earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.The business had revenue of $4.67 billion for the quarter.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, November 26th. Loews’s dividend payout ratio is presently 3.62%.

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.