Insider Selling: Loews Co. (NYSE:L) Director Sells 75,000 Shares of Stock

Loews Co. (NYSE:L) Director Andrew H. Tisch sold 75,000 shares of Loews stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total value of $6,237,000.00. Following the sale, the director now owns 12,089,677 shares of the company’s stock, valued at approximately $1,005,377,539.32. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Loews Price Performance

NYSE L opened at $83.67 on Friday. Loews Co. has a 1 year low of $66.60 and a 1 year high of $84.56. The company has a fifty day simple moving average of $79.75 and a 200 day simple moving average of $78.05. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The company has a market cap of $18.22 billion, a P/E ratio of 11.07 and a beta of 0.82.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is 3.32%.

Hedge Funds Weigh In On Loews

A number of institutional investors have recently made changes to their positions in L. Mitsubishi UFJ Trust & Banking Corp increased its position in Loews by 5.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 174,867 shares of the insurance provider’s stock worth $13,690,000 after acquiring an additional 8,527 shares during the period. Bessemer Group Inc. increased its holdings in shares of Loews by 453.9% during the 1st quarter. Bessemer Group Inc. now owns 18,429 shares of the insurance provider’s stock worth $1,443,000 after purchasing an additional 15,102 shares during the period. Swedbank AB raised its position in shares of Loews by 15.6% during the second quarter. Swedbank AB now owns 349,047 shares of the insurance provider’s stock valued at $26,088,000 after buying an additional 47,013 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Loews by 25.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 218,841 shares of the insurance provider’s stock valued at $17,133,000 after buying an additional 44,426 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in Loews by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 122,208 shares of the insurance provider’s stock worth $9,134,000 after buying an additional 9,296 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on L shares. Jefferies Financial Group cut their price objective 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 raised shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th. Finally, StockNews.com upgraded Loews from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

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.