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

Loews Corporation (NYSE:L) Director Andrew Tisch sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were 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 $1,357,992,324. The trade was a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Loews Stock Performance

NYSE L opened at $108.02 on Friday. The business’s 50 day moving average price is $107.14 and its 200-day moving average price is $103.62. Loews Corporation has a fifty-two week low of $78.98 and a fifty-two week high of $114.90. The company has a market cap of $22.26 billion, a P/E 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 (NYSE:L) last issued its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share (EPS) for the quarter. The company had revenue of $4.73 billion during the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, February 25th. Loews’s dividend payout ratio (DPR) is 3.13%.

Wall Street Analyst Weigh In

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, According to data from MarketBeat.com, the company has an average rating of “Strong Buy”.

Hedge Funds Weigh In On Loews

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC boosted its stake in shares of Loews by 22.6% during the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 658 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Loews by 9.9% in the first 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 increased its stake in Loews by 12.2% in the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after buying an additional 414 shares during the period. Woodline Partners LP lifted its holdings in 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 buying an additional 4,071 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Loews by 116.4% during the 2nd quarter. Allworth Financial LP now owns 1,266 shares of the insurance provider’s stock valued at $116,000 after buying an additional 681 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

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.