Loews Corporation (L) Insider Jonathan M. Tisch Sells 1,394,935 Shares
Loews Corporation (NYSE:L) insider Jonathan M. Tisch sold 1,394,935 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the completion of the transaction, the insider now directly owns 2,169,075 shares in the company, valued at approximately $104,983,230. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Loews Corporation (NYSE:L) last issued its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.44. The business had revenue of $3.52 billion for the quarter. Loews Corporation had a net margin of 7.04% and a return on equity of 4.08%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 EPS.
Several research analysts recently commented on the stock. ValuEngine downgraded shares of Loews Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. BidaskClub downgraded shares of Loews Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Loews Corporation has an average rating of “Hold” and a consensus price target of $39.00.
Several institutional investors and hedge funds have recently modified their holdings of L. Northwestern Mutual Wealth Management Co. lifted its position in shares of Loews Corporation by 6.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 140 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Loews Corporation during the second quarter worth about $131,000. D.A. Davidson & CO. lifted its position in shares of Loews Corporation by 1.0% during the second quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 27 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Loews Corporation by 25.4% during the second quarter. Parallel Advisors LLC now owns 3,361 shares of the insurance provider’s stock worth $164,000 after purchasing an additional 680 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Loews Corporation during the first quarter worth about $175,000. 58.76% of the stock is currently owned by institutional investors and hedge funds.
About Loews Corporation
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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