Loews Director Sells $65,505 in Stock (L)
Loews (NYSE:L) Director Walter L. Harris sold 1,500 shares of Loews stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $43.67, for a total transaction of $65,505.00. Following the completion of the sale, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $262,020. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Loews (NYSE:L) traded down 0.02% during mid-day trading on Thursday, hitting $43.53. The stock had a trading volume of 527,244 shares. Loews has a 1-year low of $41.57 and a 1-year high of $49.43. The stock’s 50-day moving average is $43.02 and its 200-day moving average is $43.5. The company has a market cap of $16.590 billion and a P/E ratio of 65.47.
Loews (NYSE:L) last announced its earnings results on Monday, August 4th. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $0.11. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. Analysts expect that Loews will post $2.90 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 29th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Wednesday, August 27th.
A number of research firms have recently commented on L. Analysts at Zacks upgraded shares of Loews from an “underperform” rating to a “neutral” rating in a research note on Thursday. They now have a $46.00 price target on the stock.
Loews Corporation is a holding company. Its subsidiaries are engaged in commercial property and casualty insurance, operation of offshore oil and gas drilling rigs, exploration, production and marketing of natural gas and oil (NYSE:L), interstate transportation and storage of natural gas and operation of hotels.
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