Insider Selling: Loews Co. (NYSE:L) Insider Sells $5,052,500.00 in Stock

Loews Co. (NYSE:L) insider Jonathan M. Tisch sold 62,500 shares of Loews stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the transaction, the insider now directly owns 6,781,634 shares in the company, valued at $548,227,292.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Loews Price Performance

NYSE:L opened at $79.39 on Friday. The stock has a market cap of $17.58 billion, a P/E ratio of 11.78 and a beta of 0.82. Loews Co. has a one year low of $61.43 and a one year high of $83.54. The company has a fifty day moving average price of $78.32 and a 200 day moving average price of $76.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. The firm had revenue of $4.27 billion for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.31%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is presently 3.71%.

Institutional Investors Weigh In On Loews

Several institutional investors and hedge funds have recently bought and sold shares of L. Norges Bank bought a new stake in Loews in the 4th quarter valued at $511,159,000. Vanguard Group Inc. grew its holdings in shares of Loews by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after purchasing an additional 507,513 shares during the last quarter. Swedbank AB bought a new stake in shares of Loews in the 1st quarter worth about $23,646,000. Northern Trust Corp grew its holdings in shares of Loews by 11.9% in the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock worth $174,191,000 after purchasing an additional 266,729 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Loews by 77.9% in the 2nd quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock worth $39,307,000 after purchasing an additional 230,231 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on L shares. Jefferies Financial Group dropped their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th.

About Loews

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.