Loews (NYSE:L) Director Ann Berman Sells 1,444 Shares

Loews Corporation (NYSE:L) Director Ann Berman sold 1,444 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $108.10, for a total value of $156,096.40. Following the sale, the director directly owned 6,686 shares in the company, valued at $722,756.60. This represents a 17.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Loews Trading Down 0.1%

NYSE:L opened at $106.32 on Wednesday. Loews Corporation has a 12-month low of $78.98 and a 12-month high of $109.06. The firm has a market cap of $21.97 billion, a PE ratio of 16.90 and a beta of 0.61. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $102.24 and a 200 day moving average price of $95.84.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. The company had revenue of $4.67 billion for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is 3.62%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Institutional Investors Weigh In On Loews

Several institutional investors have recently added to or reduced their stakes in the business. Groupama Asset Managment acquired a new position in Loews in the third quarter valued at approximately $1,723,000. Cambria Investment Management L.P. raised its holdings in Loews by 1,904.1% during the third quarter. Cambria Investment Management L.P. now owns 101,088 shares of the insurance provider’s stock worth $10,148,000 after purchasing an additional 96,044 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Loews during the 3rd quarter worth approximately $2,872,000. Tcfg Wealth Management LLC acquired a new position in shares of Loews in the 3rd quarter valued at $201,000. Finally, First Affirmative Financial Network purchased a new position in shares of Loews in the 3rd quarter valued at $239,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Company Profile

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.