Insider Selling: Loews (NYSE:L) Director Sells $5,440,500.00 in Stock

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

Loews Trading Down 0.4%

L stock opened at $108.02 on Monday. The company has a market capitalization of $22.26 billion, a PE ratio of 13.54 and a beta of 0.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a one year low of $78.98 and a one year high of $114.90. The company’s 50 day moving average price is $107.14 and its two-hundred day moving average price is $103.73.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, February 9th. The insurance provider reported $1.94 earnings per share (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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, February 25th. Loews’s dividend payout ratio is presently 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 equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CPC Advisors LLC purchased a new stake in shares of Loews during the third quarter worth about $6,568,000. Swedbank AB increased its holdings in Loews by 9.7% during the 3rd quarter. Swedbank AB now owns 443,106 shares of the insurance provider’s stock valued at $44,483,000 after purchasing an additional 39,313 shares during the period. Cibc World Market Inc. raised its position in Loews by 448.6% during the 3rd quarter. Cibc World Market Inc. now owns 24,540 shares of the insurance provider’s stock valued at $2,464,000 after purchasing an additional 20,067 shares during the last quarter. Caprock Group LLC bought a new position in Loews during the 3rd quarter valued at approximately $2,748,000. Finally, Truist Financial Corp lifted its holdings in Loews by 388.3% in the 3rd quarter. Truist Financial Corp now owns 14,331 shares of the insurance provider’s stock worth $1,439,000 after buying an additional 11,396 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

About Loews

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.