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

Loews Corporation (NYSE:L) Director Andrew Tisch sold 50,000 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $110.27, for a total value of $5,513,500.00. Following the transaction, the director directly owned 12,859,642 shares in the company, valued at approximately $1,418,032,723.34. The trade was a 0.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Loews Stock Down 1.6%

Shares of NYSE:L opened at $108.75 on Thursday. The firm has a market capitalization of $22.41 billion, a PE ratio of 13.63 and a beta of 0.61. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $114.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.36. The firm’s 50-day moving average is $105.89 and its two-hundred day moving average is $101.92.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $1.94 EPS for the quarter. The business had revenue of $4.73 billion during the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th will be paid a $0.0625 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s payout ratio is 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 investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Loews presently has an average rating of “Strong Buy”.

Institutional Investors Weigh In On Loews

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Loews by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock valued at $2,045,759,000 after buying an additional 108,882 shares in the last quarter. Norges Bank acquired a new stake in shares of Loews during the 2nd quarter worth about $665,658,000. Geode Capital Management LLC lifted its stake in Loews by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after purchasing an additional 271,234 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Loews by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock valued at $419,581,000 after purchasing an additional 344,995 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Loews by 0.4% in the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock valued at $337,698,000 after purchasing an additional 12,311 shares in the last quarter. 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.